Ann: Project Icewine Conventional Farmout Update, page-15

Morning all,

While not the "IT'S IN THE BAG" announcement, seems to me it's as good as.

Highlights
• Farminee internal approvals complete, including Board sign-off

Board have signed off so it's approved by the technical and finance guys/gals

• Farm-out deal now subject to:
o execution of closing documents

Lawyers! Can't help that but sounds like paper shuffling

o standard conditions precedent, mainly related to transfer of working interests

Standard conditions set by the DoG, BLM and SoA

• Well planning and permitting required for 2020 drilling now ramping up.

Confirms that at least one well will be drilled this coming season

Looks like we may soon be filling those beer glasses from half empty to half full.



Hope my wife doesn't turn around before I finish this beer.


Happy hump day all.

Cheers