RE:RE:RE:Old saying SlyFox1 wrote: Ark can you provide more context. Would your take be that SNV is still entitled to 49% as they have always been. So if our partner was to take a percentage in SNV it would result in additional percentage being added.
In the highest case if they were to get 51% ownership in SNV, it would mean SNV would own 100% of selat.
would be my dream scenario personally
IMO, what hasn't changed is the sequence of what needs to be done, RR, work program et al.
These milestones create value, which was previously
quantified as 24% additonal ownership in the PSC.
Now, the formulae has changed to TO BE DETERMINED additonal ownership AND a commensurate SGE ownership in SNV. The MOU was executed to formalize this new condition.
The key here is not how much SGE wil own of SNV, but rather what needs to be done to determine how much more SNV will get.
It's worth remembering the 25% ownership of the PSC is ours and there's no mention of this being at risk. Moreover, SGE needs us to advance the project, hence the MOU.
Pay us to go away or sign and get on with it!