Hero Technologies Inc (HENC)

[Hamilcar54]

Sorry, I misinterpreted your question in answer to a previous reply.

Yes the answer is correct: TGC will end up owning more acreage after the farmout is complete, this ownership is for the complete licenses so not just for the wells. From the TGC presentation:

"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%."

You will find this info as well in the filings for both companies. HENC's ownership will drop to 28% on both PEL's after the farmout is complete.