Ophir will take a 75% interest in WHL’s offshore acreage for up to $65 million in exploration costs.
Under the agreement, Ophir will fund 3D seismic up to a total amount of $17 million, and will pay the cost of an initial exploration well of up to $30 million.
The company will also pay back costs of up to $4 million in cash and will fund the second round of seismic up to a cost of $12 million.
If
