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What are the key points for Manas' operations?
We have demonstrated we can execute our plan of acquiring large concessions. After the Albanian Government's final approval we will have over 6,000 Kilometers of exceptionally prospective oil lands in our inventory. We also have shown we are capable of taking them to the next stage that is farming them out, as the Kyrgyz concessions are already being explored through our joint venture with Santos. I think it is important to note that we are working hard to acquire concessions of similar size and quality. While these things are difficult to predict, we are confident that we will be successful and that farm-outs similar to the Santos deal should quickly follow.
Knowing this I think the farm-out is a great deal for Santos and a great deal for Manas as at the end of the day we will end up with 25% of any commercial discovery at no cost. |
