It was a purchase...buyout according to the PR. It was not a default...but may have become one. So, it became a negotiated sale between the two companies. Remember, ADDAX is the operator of that block (and the one with the deepest pockets).
Tapco1 - To me it's OBVIOUS, that Overt, had not FAILED YET, no paying their share, and consequently made a deal AHEAD of such a FAILURE, putting USD 10 Mill and RUNNING to the Bank, I guess........Laughing all the way I must assume, I wud :)
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