ADX Energy has cancelled a deal to farm out a stake in its Tunisian exploration block to Canada’s Rift Basin Resources.
Under the terms of a farm-in agreement made in early January, Rift Basin could have earned a 15% interest in the onshore Chorbane permit by paying an initial $900,000.
It would then be required to pay an additional $300,000 toward the cost of acquiring seismic data over the permit, upon request from Australia-listed ADX.
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