cmonaussie
It's in the announcement of May 5. Announcement of March 23 states that wells # 3 and # 4 were the two included in the JV. Neither are producers at this stage so no cost to AKK and no share for PEP yet. The JV only included the Pierre formation i.e. not the Niobrara etc, so maybe PEP are not prepared to commit to the proposed 10 well program yet until more work is done such as the upcoming well #2.
Ann: High Impact Oil Target Identified in Colorado, page-7
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