RE:Mackie cuts PT on TPN
Mackie Research cuts target to C$0.80 from C$1
Much as I cut my target due to the PP, ; though I am still expecting $1 during drill spec.
This confuses me:
Tower will, on and from the effective date of transfer, pay its participating interest share of costs incurred in conducting joint operations as per the provision of the joint operating agreement, the initial phase of which, are estimated to cost gross US$29.5 million
I thought Taipan had a carry through the first well. Wouldn't Tower be in the same position? If they must pay $4.4 million, wouldn't that go to Premeir and not Taipan?
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