re: Ann: WA-454-P farm-out agreement executed... Modest terms...

re: Ann: WA-454-P farm-out agreement executed... Modest terms for MEO, since they have to fund ~$7 mil of the well costs themselves plus 50% of any production test and/or costs above the capped amount.

Still not a fan of management but any farmout is good at this stage. ~30% fully carried would have been better given the risks.