The amendment of the purchase and sales agreement will be completed by 17 January.
Under the amendment curative steps will be completed by 10 March, with an option to extend further to 11 April.
Coral has to fix a number of small over-riding royalty interests for commitments in the production sharing agreement.
“As a matter of good faith in the expected timely completion of these curative steps, Elk has paid a further small performance deposit to the seller,” Elk Petroleum said in a statement to the Australian Securities Exchange.
Elk
