RE: $70 MillionWith the economic troubles that Sintez have its likely they will decrease their interest in 1711.
(Now they are financing 80% of the total cost for 1711,70% +10% carried).
From the article it seems they will decrease their interest to 50% (40% + 10% carried for UNX and Namcor).
That means that they either will bring in another partner who will have 30 % interest in 1711 or
that Energulf and Petrosa will be offered to increase their share in 1711.Potentially 25% each for ENG and Petrosa.
Energulf was actually offered 25% from the beginning,later ENG accepted a 17% share but finally they settled for
10%.Petrosa initially was going to be the operator with 70%.It seems there is room for the involved companies to
increase their share,maybe also UNX and Namcor,we will see.
https://www.energulf.com/news/03_09_05.pdf
https://www.energulf.com/news/12_22_05.pdf