RNS8 Jun 2020 08:47
Additionally, as announced on 22 April 2020, the Company completed a farmout encompassing 80 acres of its 2,400 acres at Pine Mills where Nostra Terra owns 100% working interest. This provides Nostra Terra with a 25% working interest in the next well once drilled, and which will be drilled at no cost to the Company. The Company also retains the right to participate in an additional 10% working interest. Given the constraints to work and travel the seismic and geology review did not take place until the middle of May. Hence Cypress Mineral LLC ("Cypress"), the farminee, agreed to allow a formal decision to be made 30 days from that time, which is 19 June 2020. The Board remains excited about the drilling plans that can allow multiple wells and the progress Cypress is making towards drilling. A further announcement will be made in due course.
So does this mean Cypress are drilling then? As far as i was aware it was just an option to drill but no commitment as yet?