Ann: EP437 Perth Basin Farmout , page-2

Interesting farmout announcement today.

So looks like KEY will pay nothing for Dunnart #2 as long as the cost is no more than $1.7m although their interest in EP437 will reduce to 43.47%

Although, considering we previously had 50% interest before EGO relinquished their interests that is a great outcome for KEY. Lose 6.53% interest but pay nothing for a well.

Great too for Caracal, they were originally to pay 30% to get a 15% interest courtesy of EGO's interest. Now they only have to pay 13.06%