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April, I think they'll wait for the flow test results before...

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spinefx

2,819 Posts.

434

09/03/19

11:16

Post #: 37707021
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Originally posted by april2761 ↑

"The consortium also gave Great Bear, now Pantheon, a back-in right to acquire an additional 10 percent working interest prior to the spud of the initial test well by paying the pro‐rata share of all costs of the initial test well, including all associated costs, or if exercised within six months of completing the initial test well by paying 200 percent of the pro‐rata share of all costs."

So are we to assume that Pantheon didn't exercise this back-in right?

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April,

I think they'll wait for the flow test results before showing their hand.

They have the 6 month option, after completion to make a decision.

Just means by holding off they have to pay 200% if their Pro rata costs.

Cheers

88E Price at posting: 2.1¢ Sentiment: Buy Disclosure: Held
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