The Placement is to provide the Company with additional working capital for further appraisal and/or drilling work on the Surprise prospect discovery in the Amadeus Basin and to augment working capital which will ensure Central has the flexibility to pursue a number of farm-outs which are in the best interests of shareholders whilst also maximising the Company's acreage valuations.
What does F/O stand for?
F/O stands for Farm-Out (oil & gas)
This definition appears frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of F/O
We have 11 other meanings of F/O in our Acronym Attic
- Frame Format
- Fully Furnished (apartments and rentals)
- Frequency/Hour Ratio (ventricular arrhythmia)
- Formerly Known As
- Fault Locate
- Forward Link
- Food to Microorganism ratio
Samples in periodicals archive:
In all instances we will be looking to monetise our asset base for the benefit of our shareholders and to this end we are actively discussing possible farm-outs for several of our projects with a number of interested and suitable partners.
6% of the drilling costs of these first two wells with the other 20% of the Company's interest being paid by RAG and Sorgenia under the terms of the Company's farm-out to RAG and Sorgenia.
Steve has extensive land transaction experience, including acquisitions, divestitures, leases, swaps, JOAs, joint ventures, farm-ins, farm-outs and easements.
The Company holds a 100% working interest in all of its permits and application areas other than the Simpson, Pellinor, and Bejah prospect blocks within EP97 where the Company has a farm-in agreement with Rawson Resources Limited, and the Mt Kitty and Magee prospect blocks within EP125 and EP82 respectively which are the subject of a farm-out to Oil and Gas Exploration Limited.
Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements due to factors such as market prices, farm-outs, relinquishments, exploration successes, continued availability of capital and financing, and general economic, market, political or business conditions.
Under the terms of the farm-out agreement ("Agreement"), Shell will earn 55% in GR17-NP, GR18-NP and GR19-NP; and 70% in GR20-NP, GR21-NP and GR22-NP.
TLM is also considering the sale of some exploration assets and farm-outs in the North Sea which could attract another $1 billion in aggregate.