Mid, your description of what normally happens when acrage is relinquished matches what I have seen also. I am especially interested in this because of the wording being used, they have said 1/2 interest in the whole acreage, not 1/2 of the acreage of the block. This is more of an unknown because the Chad rules are a little different, keeping 30% of the oil found instead of a 5 of the total block.
I have thought giving up 25% of the JDZ blocks was one of the stumbeling blocks to phase two because they just don't know what to relinquish and what to keep.
Hopefully, they will publish the PSC in a short fortnight or two and answer our questions
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