The company said on Friday that subject to governmental and regulatory approvals, it had agreed to a staged farm-in of up to 80% in the Hernandarias Block, which covers 18,507 square kilometres to the north of President’s existing Pirity and Demattei concessions.
Although the option was granted at no cost, President said it would be required to fund the first $17 million of a work programme that includes the drilling of one well within the three-year exploration phase.
The
