Highlights:
- Agreement reached for Ophir Energy to farm-in to 75% of WHL Energy’s Seychelles Project interest;
- Ophir Energy to fund 1,500km2 of 3D seismic;
- Option to fund a further 1,000km2 of 3D seismic and 90% of first exploration well following data evaluation;
- WHL Energy to initially receive US$4 million of past costs and US$2 million following take up of the drilling option.
Australian energy company WHL Energy Limited
(ASX:WHN) (“WHL Energy” or “the Company”) is pleased to announce that it has signed a farm-in agreement with Ophir Energy plc (“Ophir”) under which Ophir will farm-in to earn a 75% interest in WHL Energy’s exploration interests offshore the Seychelles (the “Farm-In”).
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