OTCPK:ATGYF - Post by User
Comment by
Bigbadoilon Nov 01, 2005 6:10pm
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Post# 9798774
RE: "Clachnaben"
RE: "Clachnaben"AEN sees more potential in the Causeway prospects to the south so they wanted to up their interest in that part. Dana want to up their interest too in the block hence the deal. AEN did not want to give Dana a "free ride" hence they have to earn by drilling this well at no cost to AEN.
Benefit to AEN - they get 2 wells on the prospect
They increase their interest in the southern part of the block to 79%
(their main interest).
Hint - as to the prospectivity of the southern part<< AEN acquired the block to the east at the recent 23rd licensing round. There was a well on it that tested 8000 Bopd.
I think that anwsers the questions.
Bigbadun'