Digger PPP petro vietnam cannot back in like happened in block 07/03 in 2009. PPP have 15% holding in this block the same position as they initially had in block 07/03 before pertro vietnam clawed back 10% after the oil discovery. Its hard to see why it cannot run at previous highs if they find oil at least this time they will have a 15% holding whether oil is found or not.
In regards to Oi this is standard practise to have back in rights albiet at a significant premium. If PPP is fronting USD$20 mill and they hit commercial oil this should get them back around USD$110 million almost twice the current market cap one must remember.
We must all admit management are our worst enemy at present they seem content to let the drill bit do the talking lets hope it does increase shareholder value.