Positive. Statoil has agreed to earn a 50% WI in the deep horizons of the Banarli License by paying a minimum US$36 mm work program. This values Valeura's remaining 50% WI in the deep horizons of the Banarli License at C$0.80 per share. We previously assigned zero value to the deep horizons of the Banarli License, as information and data has been limited to date.
16 May 2016
ANNOUNCES FARM-OUT OF THE DEEP HORIZONS OF THE BANARLI LICENSE
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ANNOUNCES FARM-OUT OF THE DEEP HORIZONS OF THE BANARLI LICENSE
Positive. Statoil has agreed to earn a 50% WI in the deep horizons of the Banarli License by paying a minimum US$36 mm work program. This values Valeura's remaining 50% WI in the deep horizons of the Banarli License at C$0.80 per share. We previously assigned zero value to the deep horizons of the Banarli License, as information and data has been limited to date.