With the agreement of the Northern Territory government in place, Mosman's farm-in partner Greenvale Energy Ltd is now able to earn a 75% interest in EP 145.
According to the terms of the farm-in, Greenvale must pay AUD160,000, GBP84,000, in cash to Mosman within five business days.
The firm must also fund a seismic data acquisition programme and drill one well at EP 145 with a cost cap of AUD5.5 million.
Mosman said the seismic acquisition is scheduled for completion by August, followed by the drilling programme in August 2025.
Going to be a busy couple of years for GRV!
GRV Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
