RE: A Billion Dollars More Sorry, but this is not correct.
We only get half of the difference between R$1.288.674.554,40 (we have to pay Petra) and 1 Billion US$ (we get from TNK).
That's about 225 million R$ or 130 million US$.
Far away from 1 billion US$
Although I feel relieved that the deal is done now, I'm very diappointed with the new agreement. I did not know that last minute changes were possible.
Especially I miss this sentence from the original press release (October 31st)
"HRT O&G will also have the right to additional payments by TNK-Brasil which comprise reimbursement of past costs and earn-out, US$ 0.73/bbl for every barrel above 500 million BOE of total 2P reserves, which may reach up to US$ 5 billion, for a ten year period after approval of the Transfer by ANP."
Will write to IR an post if I find out something.