The acquisition of NTO's 25% by AEC will entitle AEC to a full 75% interest in the EP127 and EP128 areas and BKP to a free 25% free carried interest up to the completion of a well as agreed on the amended terms. This arrangement is subject to NT Government approval of the amended expenditure agreements on the areas. BKP will retain its 75% interest in exclusion zone of some five kilometre radius around the Elkedra-7 well on EP127, where previous drilling has indicated oil shows. This zone could be of significant value in the event of a discovery.
BKP Price at posting:
0.8¢ Sentiment: None Disclosure: Held
