Globes: Ratio joins as a 20% partner in the “Sarah” and “Myra” drilling licenses

Published on April 17, 2014

An article posted on the Globes noted that Ratio is joining as a partner with 20% working interest in the “Sarah” and “Myra” gas fields. After two months of negotiations, Ratio will receive a 20% exploration license and a pro rata share of the rights of each of the partners.

The partnership will work to locate a new drilling operator to replace GGR and the selected operator will receive a 25% interest in the licenses. In the event of a commercial discovery under the licenses, Ratio will pay the partners 10% of its revenue from the sale of oil and gas generated from the licenses. CEO Yigal Landau indicated that Ratio will re-examine the various findings in the licenses, at its own expense, within 29 days of signing the agreement.

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Globes: Ratio joins as a 20% partner in the “Sarah” and “Myra” drilling licenses 5.00/5 (100.00%) 1 vote

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