FOGL
first
flagged
the
farm-out
agreement
in
March
this
year
but
the
deal
could
not
be
executed
at
the
time
due
Edison
undertaking
a
corporate
reorganisation
which
led
to
French
group
EDF
becoming
a
controlling
shareholder.
Under
the
new
deal
Edison
will
earn
a
25%
interest
in
the
northern
area
licences
and
a
12.5%
interest
in
FOGL’s
southern
area
licences.
In
exchange
Edison
will
pay
a
$40
million
cash
consideration
and
pay
its
pro-rata
share
of
the
2012
drilling
programme
in
the
northern
licences,
which
will
consist
of
two
exploration
wells,…
