I note they state exploration well...singular.
I think its probably likely they will only farm down for 1 well and retain a bigger WI. Shows confidence IMO.
If you were truly confident you would farm down for 1 well and if it makes a discovery raise cash an pay for drilling yourself and keep as big a WI as possible as it gives you options when looking to develop.
Low SOI are the key component here.
If a discovery was made then dilution would be very small for $$ raised.
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