From the Oct 1 - Dec 31/2010 Quarterly report:
"The PSC terms currently specify the requirement to drill a well within 2 years of entering the renewal period backed by a surety of US$5 million that is forfeitable in the event of non performance. FAR's renewal request is for a term of 3 years."
"FAR would seek recovery of the US$5m surety in any farmout."
5m upfront or after non performance?
imagine, page-5
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