Claren Energy Corp (CNENF)

[buccaneer1961]

look...at the last line,if perseville funds all 5 wells tgc gets 41%..from the pr:

*Current farm-in agreement with Holloman and Perseville:


Holloman and Perseville are required to transfer an aggregate


5.83% to Terra Nova on both Petroleum Exploration Licenses


(PELs) for each well drilled to a maximum ownership of 49.83%.


Perseville is not required to transfer its earning contribution


to Terra Nova in the event that it pays its proportionate share


of the drill costs. If Perseville elects to fund its share of all five

wells, Terra Nova would obtain a 41.05% ownership.