"The Company’s share of the initial well costs is estimated at ~US$280,000. In a success case the Company’s share of completion and facilities costs are a further US$168,000.
The Company is paying 26.66% to earn a 22% working interest on the first well. The net revenue interest being delivered is ~75%."
That's what we've got from the announcement.
Shows they're either quite confident, or happy to take a bit more of a gamble now that VR is a distant memory. I'm very happy for them to take a gamble on this one. The upside is massive
Ann: Leduc Project Interest increased to 22% , page-3
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