JV terms25 Jul 2023 15:40
Again I think this is significant for investors (as opposed to short termers)
The JV is only for Coke Creek…..historically drilled by Exxon ….
Copl have full control over CC so can dictate terms as they wish.
As a reminder the deep discovery is also on Baron Flats so COPL Will retain their 85% holding there….
The Report has identified 89 horizontal well locations on the Company's operated leasehold to exploit the identified Frontier 2 Reserves and Resources. Twenty-Eight of the horizontal well locations to exploit the 1P and 2P Reserves are located in the operated 100% WI Cole Creek Unit, with the balance of 61 horizontal well locations located on the 1C, 2C and 3C Contingent Resources classified lands within the operated 85% WI Barron Flats Federal Deep Unit and operated 100% WI interest non-unit lands in the area between the Cole Creek Unit and Barron Flats Federal Deep Unit.