RE:More of the same!
"Petrobras will not pursue the entire 40% stake on its own. “It is a competitive process in a sought-after area, with potential to be confirmed. The natural thing in a bid like that is to dilute the risk with partners,” one source was quoted as saying."
The above sentence sums up the current situation. Many companies want into PEL83 ...but it is a "competetive process". All the compnies have different attributes to weigh. Galp wants a big operator to fund and direct the development, but is obviously willing to take the time to negotiate the best deal.
IMO it is a very good sign Galp has raised funds, signed contracts and is going to proceed with the 4 well Mopane exploration over the next few months.
Galp is in control and does not have to settle for anything but the best deal.
JMHO,Farrell