re: Ann: ORI: Orica and Strike Energy sign Bi... The deal according to Criterian courtesy "The Australian"
The deal involves Orica committing $2.5 million to fund a three-well appraisal program in permit PEL96, held by operator Strike (66.67 per cent) and Energy World Corp (33.33 per cent).
If Orica likes what it sees, it then “elects” to make up to $52.5m of gas pre-payments, should Strike strike “appraisal and development milestones''.
Cheers IFINO
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