RE: Prediction.11 Mar 2018 20:47
From RNS 31/01/18
Pursuant to these discussions, the Company has received indicative commercial interest from a counterparty to provide 100% of the funding for a multi-well development on Liberator and the Company's 30th Round application block, amounting to estimated total capital commitments of approximately US$200 million.
JV discussions have reached a mature stage and, should these commercial arrangements conclude in an expected six to eight weeks timeframe, the Company would maintain a working interest of no less than 67% in its Liberator and 30th Round application blocks, after a multiple of the capital commitments have been refunded to the parties from post-production cash flow.