works involve relocating dikes, river channel lengthening, re-establishing meanders, creating pool/riffle sequences, adding natural habitat features, reconnecting floodplains, and restoring riparian vegetation.
As a result, the company believes that disposing of these assets, whilst retaining an interest in their future development through the ORRI
, is in the best interest of shareholders.
Note 2: European Gas Limited (ASX:EPG) (PINK:EUPGF) owns a 3% ORRI
payable by Backreef Area JVP's and Budside Pty Ltd owns a 1% ORRI
over EP129, but excluding L6 & L8 - these royalties are payable by Backreef Area JVP's.
ZaZa will transfer its 50% working interest in the Paris Basin exploration licenses and retain a 5% ORRI
, in which the total proceeds relating thereto are capped at $130 million.
Summary of Fourth Quarter 2011 NPI and ORRI
ACOR owns a 1/10th of 1% ORRI
under PEL 111, which includes the Snatcher Oil Field, covering approximately 292,819 gross acres.
PEL 115 Update: Fury-1 Well Strikes Oil & to be completed on ACOR's ORRI
ACOR owns a 1/20th of 1% ORRI
under VIC/54 (including the Longtom Gas Field) covering approximately 155,676 gross acres.
New Oil Field Discovery - the Snatcher Oil Field on ACOR's ORRI
Rig Moves to immediately Drill Snatcher-2 Well on ACOR's ORRI
The new Snatcher oil field discovery on ACOR's ORRI
under PEL 111, could possibly help discover a major new oil province that could possibly extend west to ACOR's PEL 112.
ACOR management is seeking for the Snatcher-1 well to prove that the Western Margin Oil Trend possibly lies under ACOR's PEL 111 ORRI