Agree with folks, this is a good result, ESP good that if we proceed to the second well, then we are still holding a very meaningful 20%.
The cash back also good, although one must be wary that it is perhaps likely in effect to roll over into a similar level of pre farm out expenditure on the other permits.
News out in time for the SPP. I might even need to reconsider and participate, although under the currently uninspiring (imho anyway) CEO I am really just looking for an exit point for the rest of my holding. Might be tempted to hold some through the drill if the wait is not too long.
EL
Ann: Farmout of Phoenix Blocks , page-6
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