HI 1TRADER
as for the CSEM DATA.
FAR will benefit from an exploration well carry up to costs of US$65 million and retain 20
percent in the event that Shell elects to enter the second renewal period and subsequently
elects to then drill an exploration well.
'If Shell exercises the Option but subsequently elects
not to proceed to drill a well, FAR will retain its 90 percent interest, a licence to use the
CSEM data and will be free to negotiate with other potential farminees.
IE :SHELL if they do not take the option they do not have to give a licence to FAR.
hope this helps . wg
prediction on announcment - this week or next?, page-12
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