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Re: magicatlast post# 34014

Friday, 03/17/2006 11:26:48 AM

Friday, March 17, 2006 11:26:48 AM

Post# of 362759
This is not correct. The JDA requires that either a Nigerian or Sao Tomean subsidiary be used for contract purposes. Tax mitigation dictates the rest. Each party owns an undivided working interest under the agreements. There is no partnership created since this would have liability and tax consequences best avoided.
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