ADX Finalizing Farmouts for the Chorbane Permit
by ADX Energy
|Thursday, November 22, 2012
ADX provided guidance today at its Annual General Meeting that it is in the process of completing two farmouts in relation to its Tunisian onshore Chorbane permit.
These transactions are expected to provide ADX with a material source of funding as well as the carry of the Company’s retained interest through a seismic acquisition campaign planned for the coming year.
ADX expects to announce further details on the terms of these agreements and its new partners in the near future.
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