Highlights
? Apache will acquire a 40% equity interest and become Operator.
? JX Nippon will acquire a 20% equity interest.
? The Apache and JX Nippon farmin will collectively cover the cost of drilling the
Phoenix South prospect (firm) and the Roc Prospect (contingent on result of
Phoenix South well).
? As part of the transactions Carnarvon will receive a payment covering past costs,
payable on registration of the new permit interests.
? Carnarvon and Finder will each retain a 20% equity interest.
Anyone with an idea on how much the "past costs" that Carnarvon will be paid for are?
Ann: Farmout of Phoenix Blocks , page-2
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