Scandoil  

Vast Exploration declares relinquishment of Qara Dagh Block


Published Nov 16, 2012
[an error occurred while processing this directive]

Edit page New page Hide edit links

Vast Exploration Inc.

Vast Exploration Inc., along with its consortium partners Niko Resources Ltd. and Groundstar Resources Inc., has entered into a relinquishment and termination agreement (the "Relinquishment Agreement") with the Kurdistan Regional Government (KRG) to surrender their collective interests in the Qara Dagh Block located in the Kurdistan Region of Iraq.

Vast acquired a working interest in the block under a production sharing agreement signed in 2009. During the first exploration period, the operator, Niko Resources, conducted a seismic program and drilled one exploration well, which was not commercially successful. Subsequently, an extensive process was undertaken by the operator to find a suitable farm-in partner, which was ultimately unsuccessful.

Pursuant to the Relinquishment Agreement, and after settlement of outstanding expenses, Vast expects to recover a net amount of USD $3.25 Million within the next 12 months.

Tags: Vast Exploration Inc.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml