RE: 30% CLNR shell 70%8 Feb 2019 09:30
No CLNR are paying 30% drill cost
P2252
-- Under the terms of the Farm Out Agreement, Shell will acquire a 70 per cent. working interest in Licence P2252, and be appointed as the licence operator, in return for paying 100 per cent. of the costs of an agreed forward work programme to the earlier of 31 December 2020 or the date on which a well investment decision is made.
All costs in relation to P2252 following the well investment decision (or 31 December 2020, if earlier) will be satisfied by each party in proportion to their working interests.