Claren Energy Corp (CNENF)

[Hamilcar54]

I think you need to reread the documents on the TGC website:

In the shareholders letter it is mentioned that the cost for a well is 2,5 million, so HENC's share would be half that number if everyone pays it's share.

If no wells are drilled then the concession is lost for everyone. I don't know where you get the get the idea that someone can claim the whole concession if someone doesn't pay. In the farmout agreement drilling costs would have been recuperated by the profits of the drilled oil wells untill the specified sum has been recuperated.

"Henc however will have to raise two million in the next two months to fund its share of JUST THE FIRST well, according to Tgc Info circular. If Henc does not pay, it loses the right to the structure being drilled. Tgc earns the right to the whole concession. "