MAY
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5.26% 3.6¢ melbana energy limited

Ann: Binding farmout agreement signed for Block 9, page-22

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  1. Justlocal
    747 Posts.
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    02/01/19
    17:38
    Post #: 37005691
    The agreement states that the farmout partner will be responsible for the guarantee. I suppose it depends on your interpretation of farm out partner.

    For me, the announcement states that they have signed a farmout agreement with AMEC (AGMI subsidiary) which I interpret therefore as MAY being the farmout principal and AMEC being the partner. I have also checked the LOI of 8th Oct and that clearly states that AGMI will replace the guarantee. Cheers!

    MAY Price at posting: 1.5¢ Sentiment: None Disclosure: Held
    Likes Created with Sketch. 3  Upvote
    lightbulb Created with Sketch.  Great analysis
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