Arcan Resources Ltd ARNBF

crude prices

[skeksis]

Bit of a jump in the Suncor Edmonton light crude price on Tuesday.  Finally getting back closer to WTI after being at quite a discount the past month.

https://www.suncor.com/en/about/894.aspx

(There are 6.29 oil barrels per cubic meter)

[nlr2]

Not sure if this is a totally obvious point or not but I was wondering if in the PBN farm in agreement the five commitment wells are 100% funded by PBN? I'd assume so but I was wondering if someone could confirm. Thanks.

[skeksis]

They haven't made the terms of the farmout publicly available, so hopefully they will put it on SEDAR or something in the annual report.  My guess is that PBN will pay 100% of the well costs and get a 100% working interest before payout and after payout, Arcan and PBN will each have a 50% working interest.