Vintage has concluded a 30% farmin from RCMA (op) and Metgasco in prod. licence L 14, 39 sq km in the Perth Basin and home to the Jingemia oilfield. The deal is in exchange for Vintage funding 50% of the Cervantes explo well spudding by 3Q '20, and paying AUD 100,000 to Metgasco for future expenditure relating to Cervantes and AUD 100,000 to RCMA for seismic re-processing over the L14 licence. Metgasco also has the right to drill a 2nd optional well with the same farmin obligations, exercisable between Apr-Dec '20.
Vintage has concluded a 30% farmin from RCMA (op) and Metgasco in prod. licence L 14, 39 sq km in the Perth Basin and home to the Jingemia oilfield. The deal is in exchange for Vintage funding 50% of the Cervantes explo well spudding by 3Q '20, and paying AUD 100,000 to Metgasco for future expenditure relating to Cervantes and AUD 100,000 to RCMA for seismic re-processing over the L14 licence.