The farmee under the Farmout and Joint Venture agreement described in DeeThree news release of April 18, 2011 has elected to terminate the agreement after having drilled only one well of the four well commitment. This well is currently producing.The farmee earned a 60% working interest in the well and in 6.0 sections of the farmout lands and has no right to earn additional interests in the farmout lands. A termination fee of $3 million has been paid to DeeThree. The lands subject to the agreement are located approximately 41 kilometers from the discovery well described above and targeted a different Bakken interval.
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