Wow, they sold the farm! Had been watching to see what they did, but ultimately have sold the farm for a 12.5% royalty on profit oil. With drilling and production costs needing to be absorbed first, I can't see there being any cash benefit flowing to MAY for at least two years. Looks like the strategy is to gamble on Beehive and sell that interest if it comes in. Otherwise you simply have an investment shell now.
Ann: Binding farmout agreement signed for Block 9, page-4
-
- There are more pages in this discussion • 33 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
