Replies to post #3933 on Claren Energy Corp (CNENF)

[joseytheoutlawwales]

Smooth, I think you totally misunderstood me.

I wasn't disputing who the operator is or was. YES, TGC does control the drilling timeline for the most part. That is exactly why I said I like this deal they did with Perceville; increased ownership gives them increased drive to drill!

And actually this change in percentage work-in now changes how much each party is required to contribute to further drilling attempts; but yes, as I understand it HENC does have to contribute a substantial portion.


Re: joseytheoutlawwales Post# 3932
Isn't TGC considered to be the "operator?" If so, don't they control the drilling timeline? And isn't HENC required to put up the vast majority of the cash for at least the next well?

Got go back and do some re-reading!



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[Hamilcar54]

This would be interesting to know: how are the next set of wells to be paid for percentage wise between the partners: who pays how much ?