Re: "Am I correct in saying that FAR will be due back charges...

Re: "Am I correct in saying that FAR will be due back charges from Petrosen
once DOC is done and they decide to opt in if they do? They would be due to repay FAR the 1.3% of the costs from 15% down to 13.7%. The other extra paying interest FAR currently has would still stand and is already included in the costs ...I'm sure I read that somewhere etc"

Hi B4

Based on the following information provided by Homeales and others in posts from last January (14613068 and thread), the only costs repayable would be as per the bolded statement below. Could that be what you are thinking of?

1. Petrosen has a carried 10% interest through the exploration phase (through this period FAR is paying 15 + 10 x 15/90 = 16.67%).

2. After commerciality is declared. Petrosen has a 60 day option to back in for a further 8% but must meet its full share of costs. ie if back in then 18%. Also required to reimburse costs from date of commerciality to option exercise date (my bolding). FAR is 13.7 % share and paying interest from declaration of commercial if Petrosen exercise option"

pj