Can someone who owns units in WER's Sambuca offering explain the funding obligations under the Deeded Direct Working Interest (DDWI)
As I understand it, WER will earn 40% in the two offshore permits by funding the Sambuca well
Is WER's funding obligations capped, eg, up to the USD23mil estimate to drill Sambuca.
Once WER have payed that amount, what are their future obligations under the DDWI scheme
Do they remain a 40% owner (with a percentage claim on any future income) without having to fund any further drilling and development costs ?
deeded direct working interest
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