welcome to the day traders!, page-42

Thanks kastin.

Pretty much everything that I know about Palta comes from the Cott Oil & Gas prospectus with their 1/3 interest in WA-460. That was the first numbers put on Palta that I saw.

A OXX representative said;

"We rely on the terms of the agreement with Shell in relation to the need and timing of them providing Octanex with significant information."

Presumably with these 'farmouts', ORRI's etc there in an 'Industry Standard agreement', that is tailored to individual circumstances.
They presumably don't go around reinventing the wheel each time?

I wonder if anyone has seen one of these documents?
And what it says with respect to providing party's like OXX with 'significant information' in these circumstances.

Notwithstanding I wouldn't be surprised if Shell were very slow in fulfilling their obligations. Call me cynic if you like.