bounty oil option for 12.5% of atp855p , page-5

Further Update:

Response to my question from Carl Dorsh ADE as follows:

ADE does still have a 20% interest in 855. We have a prospective
farminee (a private company) who has the right to earn 12.5% of this 20%
by funding our (20%) share of a work programme which will entail 300 kms
2D seismic and one Permian well - the cost to the private company will
be 20% of +/- $10M and so whether they participate or not is uncertain.
Either way, I am very comfortable with our position