That isn't the bit that jumped out at me, this is:
"Tap will not be required to exercise the option until 10 days after incoming JV partner, AWE, confirms whether it wishes to elect to enter the drilling phase."
Does this mean they don't owe WHL anything until AWE decides to drill? So WHL have to cover seismic costs until they confirm it is worth drilling? Seems like a ridiculous agreement.
Please someone tell me that I am reading this wrong.
whn and tap announcements very different, page-3
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