Ann: Revised Terms on Corporate Transaction with ERM Power, page-9

Dazt49 I mentioned amplify because it seems clear that ERM are influencing the negotiation. EGO are in no financial position to be spending $15million when they have no cash.

ERM want out of their obligations as a farm in partner and this is their exit strategy.

This has nothing to do with EGO needing 100% ownership in order to find a farm in partner. ERM had 47.5% of EP 432(A) and 50% of EP 454 so didn't need a farm in partner to proceed with Charger or Black Arrow 1.
So why would EGO buy out their percentage only to then turn around and find another farm in partner to help fun the drills? To me this is just BS and a way for ERM to get out of their commitments. Increased risk for EGO and reduced risk for ERM.

EGO will have 100% of tenements & ERM with 19.99% will be pulling 100% of the strings......