Faroe is acquiring 25% WI in Agar Plantain from Azinor Catalyst. Agar and Plantain have a combined mid case resources of 60 mmboe (upside of 98 mmboe). Agar was an oil discovery and Plantain is an exploration prospect that would grow the size of the combined pool in a success case. Faroe is also acquiring 12.5% WI in the P1763 licence through the same transaction. The overall cost of the well is US$15 mm and it will be drilled later in August. We understand that Faroe is paying a small promot
14 Aug 2018
FLASH: Farm-in to Agar Plantain in the UK North Sea
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FLASH: Farm-in to Agar Plantain in the UK North Sea
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
14 Aug 2018 -
Author:
Stephane Foucaud -
Pages:
2
Faroe is acquiring 25% WI in Agar Plantain from Azinor Catalyst. Agar and Plantain have a combined mid case resources of 60 mmboe (upside of 98 mmboe). Agar was an oil discovery and Plantain is an exploration prospect that would grow the size of the combined pool in a success case. Faroe is also acquiring 12.5% WI in the P1763 licence through the same transaction. The overall cost of the well is US$15 mm and it will be drilled later in August. We understand that Faroe is paying a small promot