Key has signed a non-exclusive agreement with Six Pines Capital LLC for the latter to takeover Area 3 in ATP 924-P in QLD, defined as the majority area surrounding the otherwise Santos-operated Marengo gasfield (red blob on map below) and drill 2 wells therein. Upon completion of drilling, Six Pines will earn a 75% stake in Area 3 and Keyâs 25% will be carried.
Key has signed a non-exclusive agreement with Six Pines Capital LLC for the latter to takeover Area 3 in ATP 924-P in QLD, defined as the majority area surrounding the otherwise Santos-operated Marengo gasfield (red blob on map below) and drill 2 wells therein. Upon completion of drilling, Six Pines will earn a 75% stake in Area 3 and Keyâs 25% will be carried.