re: Ann: Farm in agreement for seismic and we... Good to see some onshore developments.
Im a little concerned with the deal though. If someone could please elaborate on what i'm missing, I would be appreciative.
FAR is reducing its holding from 60% to 24% for onshore acreage and in return Milo will pay for the 2d seismic and one drill? How much does an onshore drill cost, probably depends upon depth I would imagine, but I wouldn't have thought it would be anywhere near an offshore well? Any ideas on well costs? What else does Milo pay for?
My initial reaction was, we are giving away 36% ownership, what exactly do we get in RETURN $$ wise. If gas is found, do we contribute to production/infrastructure costs etc. I think we would have to.
Thoughts appreciated
Harry
re: Ann: Farm in agreement for seismic and we... Good to see...
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