Scandoil  

Zeta enters period of exclusivity regarding Bobocu concession farm-out


Published Jun 2, 2015
Zeta Petroleum

Zeta Petroleum says that the Bobocu concession farm-out process has resulted in the receipt of a farm-in offer from a third party and the signing of a non-binding memorandum of understanding.

Pursuant to the terms of the MOU, the Company has entered into a period of exclusivity of up to eight weeks with the third party in order for the third party to complete its due diligence and to enable time for both parties to negotiate and execute binding agreements.

If the transaction proceeds in accordance with the terms of the MOU, it will enable the third party to earn an interest of up to 70% and operatorship of the Bobocu concession by funding one well, providing an interest-free loan on a second well and paying a proportion of back costs relating to previous investment made by Zeta on the Bobocu concession.

Tags: ZETA Petroleum, ZETA Petroleum




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