I keep hearing that bounty has a 75% interest in pep11 right now and is free carried through the first well and then have to contribute to 15% of overall costs for every well after that...
What im confused about is, will they have a 15% interest or a 75% interest in the FIRST well, or before the first well have a 15% interest? My understanding is that they will have a 75% interest in the first well (free carried) then 15% interest in every well after that where they have to contribute 15% of overall costs... thanks in advance for the clarification
News: Bounty Oil & Gas drilling developments , page-6
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