anns coming ...., page-17

I posted this the other day.
CXO own 51% of Albarta and can increase to 80% after meeting expenditure conditions.
Assuming they increase their holding to the 80% it will be interesting what the split will be and who the JV is with.

... Looks like the JV was secured by the issue of shares back in 2012:

The Company will issue 500,000 Shares between the date of this Notice and the 2012 AGM. The
Shares will be issued as consideration for a Joint Venture formed in relation to tenements EL27369,
EL27709, EL28029, EL28136 and EL28546 in the Northern Territory. The Shares will be placed in
voluntary escrow for a period of three months from date of issue. Full terms of the farm-in
agreement are listed below:
• Core must issue 500,000 Core Shares to vendors by 5 October 2012. Shares to be held in
voluntary escrow for 3 months.
• Core may earn an initial 51% joint venture interest by spending $225,000 on exploration during
the next 2 years.
• Core may earn an additional 29% joint venture interest (total of 80%) by spending an additional
$200,000 (total of $425,000) over an additional 2 years (total of 4 years).
• If Core acquires 80% interest, then vendors remaining 20% joint venture interest will be free
carried to completion of a bankable feasibility study.
• Core has an option to acquire the vendors’ 20% free carried interest at a price equal to the
greater of $1,000,000 and a value determined by an independent expert.
The securities will be issued for nil cash as consideration for an interest in the tenements between
the date of this Notice and the 2012 AGM following the execution of a voluntary escrow deed. The
volume weighted average price of Core Shares on the five trading days prior to 5 October was 9
cents per Share and is deemed to be the issue price of the securities.
The securities rank equally in all respects with all other Shares on issue as at the date of their issue
except that they will be escrowed for a 3 month period commencing on the date of issue. Holders
of these Shares will not be able to dispose of these Shares in that 3 month period.
The Shares have been issued to the sellers of the Joint Venture (JV) interest as detailed in Table 3.
TABLE 3
Vendor (allottee) Shares to be allotted
Gempart (NT) Pty Ltd (or nominee) 300,000
Chongwadee O’Farrell 150,000
Riding Resources Pty Ltd 50,000
All shares issued 9c