The Australia-listed company has still refrained from naming the farminee, describing it only as a “well financed” Toronto Stock Exchange-listed company with Canadian reservoir engineering expertise.
The farminee will provide funding for the appraisal and development of the 1720-acre oilfield while Solimar retains majority ownership and operatorship.
Solimar chief executive Will Satterfield said the agreement was an important milestone for the company, with the new partner providing “funding and additional expertise to move the project forward from contingent and discovered resources to commerciality.”
Under
