FOG3 Oct 2018 08:51
Now being released (at a cost) is this a good thing?????
Under the relevant agreement, Falcon and Origin had a five-year option to terminate the ORRI at a cost of US$5 million, to be paid in proportion to their respective interests in the exploration permits
CRIAG was adjudicated bankrupt on 21 March 2017 following which Falcon and Origin approached the liquidator of CRIAG (the "Liquidator") with a view to terminating the ORRI. Falcon and Origin have signed a termination agreement with the Liquidator and paid CHF150,000 (approximately US$151,000) to the Liquidator and the 1% ORRI has been terminated