TSXV:PEC.H - Post by User
Comment by
skier59on Sep 28, 2012 10:44pm
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Post# 20426831
RE: RE: RE: PEC Golden Cross is bullish
RE: RE: RE: PEC Golden Cross is bullish
"Following the drilling and testing of the Alcobaça #1, Galp has the option to acquire a 25% working interest in each of the Company’s other concessions in exchange for payments totaling no more than 25% of Porto’s sunk costs in each concession. The Company will remain the operator through the drilling of the Alcobaça #1 well, after which Galp will have the option to become the concession operator."
GALP will make every effort to help continue this exploration. Portugal want it, and need it to be successful.This project is important for the Economic benefit of the Country.