On 25 September 2014, the Group acquired an 80% working interest and a 58% net revenue interest in an oil and gas field development project, the Wise I-25 Well, situated within the Canadian River Project area, in Okfuskee County, Oklahoma. As at 30 June 2015 the well has not commenced full production and as such is still in the testing phase with net revenues being applied to the cost of the project in line with the Group’s accounting policies, until such time as the project is operating at the commercial quantities the business intends.
So now we know where the revenue is flowing.................
DLC Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held