RE:RE:RE:Wassana Production Re-start and Change to Working InterestsMore likely that PSL is no longer financial viable. When the operator says "time to pay up" and you can't, this is what happens.
On Rossukon, sounds to me to be similar. Northern Gulf probably wants to move forward, and Valeura decided to invest heavy in Nong Yao instead. It was too financially risky to do both at once.
Remember that Valeura paid $3.1M for both Wassanna and Rossukon, so they've already turned a profit by selling Rossukon for $5M, plus a risk-free 2% royalty. I wonder what happens to the $7M contingency owed on development?