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.
Read the full article:
