"The consortium also gave Great Bear, now Pantheon, a back-in right to acquire an additional 10 percent working interest prior to the spud of the initial test well by paying the pro‐rata share of all costs of the initial test well, including all associated costs, or if exercised within six months of completing the initial test well by paying 200 percent of the pro‐rata share of all costs."
So are we to assume that Pantheon didn't exercise this back-in right?
Petroleum News, page-88
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