RE: Farmout14 Jun 2022 16:50
A reminder for those focusing on the wrong thing here - what we paid for was in total 10 PERCENT OF THE SASANOF LICENCE a vast huge area already proven to be rich in gas with 17 plays. That’s our stake - money well spent for a junior I’d say!
"Clontarf will retain its 10% interest in the WA-519-P block and will work with its joint venture partners in further evaluating the remaining exploration targets within the field, with a view to commence targeted farm-out discussions."
Horgan said that, while Sasanof-1 did not intersect commercial hydrocarbons, the company had shown that a "consortium of juniors" could identify, work-up, fund and drill a high potential gas well in over a kilometre of water depth.
"The partners will review deeper targets on this Block, utilising the Sasanof-1 well data, to progress new prospects through targeted farm-out discussions.
"Recent geopolitical events show the need for Europe and Asia to secure additional liquefied natural gas supplies.
"This requires exploration and development of additional gas reserves in reliable locations."
IMHO DYOR GLA BUYTHEDIP