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Seismic Acquisition over 7years which means they only have 12...

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stevo

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07/09/23

14:18

Post #: 69770730
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Originally posted by AustinNZ: ↑

MAY has drilled in Cuba recently utilising 2D seismic and have had success in discovering several oil reservoirs which they are appraising ATM so it seems it can be done though they are planning on rolling out 3D in the future.

The original announcement made by KAR when they won the bid for Clorita is dated 28 September 2017. It won't allow me to copy and paste it but it does state that the work program that KAR will undertake consists of seismic acquisition and geological studies. So we may still be on the hook to conduct the seismic acquisition.

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Seismic Acquisition over 7years which means they only have 12 months left. Board may be thinking to return the block.?

KAR Price at posting: $2.54 Sentiment: Buy Disclosure: Held
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