RE:RE:RE:RE:Goldygrincopperplay wrote: Lovethegains wrote: When does the first year of partner covering costs end? We signed PSC in October 2019 so would it not be October 2020 or is it a year from when production starts?
First year costs end this year October 2020 and have been reached already as per press release. $125,000 US funds. Sonoro has until October 2021 to repay this amount
Year 2 costs starting in October are around $5 million which leads me to believe nothing will happen until then.
If year one cost is $125k USD and partner only covers the first year.. SNV will need to fork out alot more money to cover the expense for year 2.
What i'm thinking is the partner and SNV are timing the price of oil before they publish the oil reserve numbers to boost market value in order to do a private offering to boost cash reserve
that would be my guess.