Just read your Post No. 7467840 re 'Rain" in which you reproduced part of the Ann of 22 Nov from BKP.
This states that PFC will earn 50% of EP127 & EP128, on completion of the 500m. hoztl section of Mac-2.
There is something that I am missing here.
BKP indicates in their Ann of 4 August 2011 that 'BKP has a carried undivided 25% working interest up to completion of a minimum 500m. of horizontal drilling into the Basal Arthur Creek shale in either EP127 or EP128'.
Can anyone clarify what these 2 Ann mean?
I can now only assume that BKP retains 50% of both EP127 & EP128, but is only 'free carried' for 25% of the COST of the 500m. horizontal. It appears I have mistakenly(?) interpreted that BKP only ended up with 25%.
BKP Price at posting:
1.0¢ Sentiment: LT Buy Disclosure: Held
