Norwest Energy NL has acquired a 10 per cent stake in permit TP/15, which lies adjacent to the Cl...
In exchange, Norwest will fund 20% of the cost of drilling the first two wells in the permit - each capped at $2 million - after which Norwest will pay its 10% share of costs. Norwest added it would also pay 20% of the costs associated with casing and testing costs for one of these wells.
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