Re: Press release/TK - Lanman
in response to
by
posted on
Aug 19, 2009 01:23PM
Developing large acreage positions of unconventional and conventional oil and gas resources
>Finding diamonds is great but if you constantily have to give up 75% of it to get it poished and cut for market...well....
http://www.independent.ie/business/irish/exxon-woo-new-partners-to-allay-dunquin-drilling-costs-1295318.html
"By taking in a partner ExxonMobil is following a long standing industry tradition of spreading the risk on what is essentially a new exploration province."
BTW, they didn't "give up" 75% of it. The Exxon / MOL interest is 67% of 75% of the production license area.
"The Contract Area consists of approximately 184,300 acres, or 75% of Falcon’s 246,000-acre Production License. The Contract Area will be owned jointly, with Falcon owning a 33% undivided working interest and ExxonMobil owning a 67% undivided working interest."