Ya,
i contacted the company to see if I can get that info: all I have atm is the below:
Subject to a mutually agreed Sale and Purchase agreement Golden Gate will pay 23% of costs to earn a 15% working interest with an entry fee of US$300,000 payable to earn an interest in the first three prospects. Golden Gate will have the option to participate in subsequent three well programs on the same terms and can ultimately earn a 15% working interest over the entire dome.
Grand Gulf announced on 12 January that it had reached agreement with Waterloo to earn a further 21.5% of the Napoleonville Salt Dome Project. Under this agreement Grand Gulf also becomes operator of the project. Pursuant to the Golden Gate agreement Grand Gulf will retain operatorship but reduce its expenditure commitment for each well drilled thereby being able to drill more wells with existing finances. The Golden Gate farm out is at the same value per percentage point as the Waterloo farmin.
Grand Gulf will have a working interest of approximately 35% in each well and prospect after the Waterloo and Golden Gate farmins.
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