At a bare minimum, with regard to royalties, joint venture relationships, etc., the GOB should be looking for precedents and SOP of other countries and their government departments. In this regard, it would be hard to find better examples than Alberta, Canada. That said, it should be noted that the Alberta government's decision to significantly increase its share of revenue by increasing royalties paid to the government, was a poorly considered move. It has to be economically feasible for industry to proceed with petroleum development, ergo, royalty rates have to be reasonable.

A fish and a bird can fall in love, but where will they build their nest?