No, 78% does not become available. The percentage from Sinopec and Addax reverts to ERHC. So there is only 35% on offer to a new operator, ERHC gets its 65% back. So it is necessary to deal with ERHC to gain more than 35% of JDZ-2.
My main worry is TOB saying Blk2 is totally different geologically from Blk1 so that even success in Blk1 doesn't necessarily bode well for Blk2
Strangely, I had a post near complete talking about the JDZ-2 geology. I think they already believed this, as was written on the Equator site two years ago. The question was whether the gas discovery(s) could be commercial stand alone IMO.
But likely the two wells in JDZ-1 gave some confirmation of the geology and any new theory and calibration of the DHI.*
*Actually near certain considering the passage of time and the new operator.
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