At a $100 a barrel, Venezuela is getting a great deal by buying out HNR. Harvest would never had sold this operation if Venezuela had acted in an acceptable manner. Basically, this boils down to, "I can't stand it anymore, give me part of the money and you can have it". This asset is worth a lot more than Venezuela is offering to pay which will probably result in a quick closure in May after the stockholders vote approval.
first off it is not VZ buying HNR it is Pluspetrol and they are from argentina, VZ gets it all now so why would they pay for HNR, the problem is VZ is cash poor paying to stay in control of the people and they need Pluspetrol to bring in more money to drill oil which is something HNR can not do.So in my opinion they will approve the deal if Pluspetrol and VZ can reach terms, in other words VZ is trying to get committments for more drilling and pluspetrol is trying to get assurances they can get their money out of the country.
You are exactly right, I intended to indicate that Venezuela is controlling the process and needs the deal to proceed. I doubt that Pluspetrol will delay the project in that the initial part of the deal has been paid out and they are just waiting for what might be, as you say, a "we want #$%$" from Venezuela.