I guess we can only compare it to other farm out agreements in the area
Winx was farm out anticipated a cost of about $15m US (Dry Hole) for a gross meanunrisked prospective resource volume of 400MMbbls and a geologicalchance of success in the range of 25-30%.
This gave Great Bear a 10% working interest with an option to buy back in following the result
I guess the real question is can 88E do a better deal? My confidence is waning otherwise a deal would have been done long ago.
IMO our farmout will result in significant dilution far more than what some on this forum is expecting
I guess we can only compare it to other farm out agreements in...
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