RE:RE:RE:RE:New CEOhikari wrote: With the first deal Rhina gave about half of its share away.
With the first deal Impact/AOI gave more than half of its share away.
London, 10 October 2017, Impact Oil and Gas Ltd (“Impact”), the African-focused pure exploration company, is pleased to announce that it has signed (through its wholly owned subsidiaries) a farm-out agreement with Total E&P Namibia B.V. owned by Total S.A. (“Total”), whereby Total will acquire 70% of Impact’s interests in Block 2913B, offshore Namibia (“Block 2913B”), and 77.78% of Impact’s interests in Orange Basin Deep TCP, South Africa, once an Exploration Right is granted over the area (“Orange Basin TCP”).
The alternative was to TRY and raise 1-2BN cash to fu d thwor share, in the event ot gets developed....would never happen unlesz they dilited us by 99% if evwn then.
Bettwr to give up to derisk 100%, finamce 100% until firay oil and keep hands on entotlemwnt to $2 BN oil