RE: Gneiss Energy24 Mar 2021 08:32
Given these technical results, since announcing the results of the well the Company has had a number of discussions with industry counterparties in relation to a potential farm-out of the licences, and the Company is now working to formalise and launch an entirely new farm-out process via Gneiss Energy. The farm-out will seek to introduce a funding and operating partner for the next stage of exploration activity in The Bahamas. The Company is in the final stages of integrating the well information with its historical dataset and expects to commence the farmout process upon completing this work in the coming days.