In The Mentor¹s recent article, about OPI brokering a ³joint venture², we
wanted to publish a clarification that we in no way meant to represent that
OPI was trying to broker a joint business venture in the sense that Cromwell
and any other oil company that is trying to establish a contract will have a
any sort of shared revenue or production. OPI is brokering a set of
international standards for the oil industry to follow. Companies that sign
onto the deal would have completely separate operations, revenue streams,
costs and such. Under OPI, any and all companies that are in negotiations
will have to negotiate with both sides of the government. Under the guise of
the OPI transparency initiative, any companies would be prohibited form
establishing back ally deals with any single political party or other entity
in the country. Any companies that enter the bidding process will be subject
to these standards.
No interested oil companies have signed the agreement.
Nosferatu, who has not made any formal indication that they will be making a
bid for Block 77, did tell the Mentor that they are continuing to hold
individual meetings within various actors in the country. They have not yet
accepted OPI¹s standards. With Cromwell¹s stock taking a hit after a
short-lived rise. A joint venture or buy out by a major oil company is not
out of the realm of possibility.
Saturday, February 21, 2009
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