"announced that Fortescue will invest A$21.9 million to acquire a 39.8% interest"
"subject to HyTerra shareholder approval"
"subscription by Fortescue will fully-fund an expanded initial exploration phase of its Nemaha project"
"facilitating a significant increase in pre-drill acreage - will result in increased drilling of prospects in several identified geological play areas"
"enhancing potential to unlock commercial opportunities in the Mid-West of the United States"
"strategic alliance agreement also is to be agreed between HyTerra and Fortescue"
"purpose will be to facilitate collaboration on the Nemaha project and progress global opportunities"
"HyTerra will then drill six wells across multiple geological plays to choose the best areas to develop"
"through the strategic alliance with Fortescue will use this knowledge and data to pursue other global opportunities"
"intention to use the subscription funds to increase lease acreage, execute geophysical surveying and drill six exploration wells in the Nemaha project"
https://oilman.beehiiv.com/p/oilman-jims-letter-august-31-2024
Worth reading
Ann: Fortescue to acquire strategic interest in HyTerra, page-145
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