It just seems to me it would be very hard for VZ right now to issue any permits without having Brisas resolved.

I agree that it would be a nightmare for the Ven lawyers who would find their arguments in regard to the "environmental" issues that they used as the excuse to withdraw the GRZ permit, suddenly negated.

Obviously a third party negotiating a deal with GRZ would have to involve GRZ dropping the arbitration and making the drilling and engineering data available. It would make good business sense for the Chinese as well having the whole area under their control even if they didn't develop it immediately.

GRZ has no desire to remain in Venezuela, so the deal would have to be a clean exit for them and not a JV or any other structure.