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3.6¢ octanex limited

They way I think it works is the area gets split into 2 1 is the...

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28/07/17

09:02

Post #: 26131092
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Originally posted by uazy4 ↑

NOPTA Oct 2016 Retention Guidelines read:

1.4. When a retention lease is granted, the block(s) included in the lease cease to be part of the underlying exploration permit or production licence. In the case of an exploration permit, the minimum work requirements (condition of title) of the underlying permit are not reduced after the excision of the block(s) unless the entire permit ceases to be in force (i.e. the retention lease is granted over the entire permit).

Rae needs to clarify IMHO.

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They way I think it works is the area gets split into 2

1 is the defined retention lease

2 is the balance of the permit.

2 could then be relinquished and the well commitment goes away.

I could be wrong....
OXX Price at posting: 9.0¢ Sentiment: Hold Disclosure: Held
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