document: Cluff advises a 6-month extn has been granted to the initial term of both wholly-owned P2252 + P2248 in the SNS to 31 May â19. An exclusivity agreement has also been signed with an undisclosed company for P2252 subject to a definitive farmout agreement being entered by 31 Jan â19 and completed by 28 Feb â19. The extension of P2252 was granted in exchange for committing to a seismic and a well (Pensacola prospect) by 28 Feb â19. Â The P2248 extension is subject to Cluff making a firm well commitment by 28 Feb â19.
summary: Cluff advises a 6-month extn has been granted to the initial term of both wholly-owned P2252 + P2248 in the SNS to 31 May â19. An exclusivity agreement has also been signed with an undisclosed company for P2252 subject to a definitive farmout agreement being entered by 31 Jan â19 and completed by 28 Feb â19. The extension of P2252 was granted in exchange for committing to a seismic and a well (Pensacola prospect) by 28 Feb â19.  The P2248 extension is subject to Cluff making a firm well commitment by 28 Feb â19.