you missed the section where they state that if they default on...

you missed the section where they state that if they default on the jv obligations i.e. no money to contribute, they will have to surrender the asset (and may be liable for liquidated damages).

so - why did those 9% succeed in changing the mind and forcing the resignation of Ted? or was he looking for any excuse to jump.

seems like a strange one.

on the plus side, 2 new wells coming up with ego who have had some success up there recently.

cash positive UK business (only a loss after depreciation).