WHL Energy announce Seychelles Farm In Agreement
WHN Tue, 04 Mar 2014, 05:15 AEDT
Australian energy company WHL Energy Limited or is pleased to announce that it has signed a farm-in agreement with Ophir Energy plc under which Ophir will farm-in to earn a 75% interest in WHL Energy?s exploration interests offshore the Seychelles. Under the terms of the farm-in, Ophir will fully fund the acquisition of 1,500km2 of 3D seismic, up to a total amount of US$17 million. On meeting the conditions of the farm-in agreement, including formal regulatory approval by the Government of the Seychelles, Ophir will pay WHL Energy US$4 million in cash for partial recovery of back costs.
David Rowbottam, Managing Director
Managing Director
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