The company has executed an agreement with its joint venture partner to change the prior farm-in covering PRL 108, 109, 110.
Tellus will now be funded for the acquisition, processing and interpretation of a 3D seismic programme covering 42 square kilometres, instead of a carried well.
In return, Senex will take another 7% interest in the PRLs.
Senex will start the seismic programme in the first quarter of next year to encourage a “timely performance of this farm-in work”.
Tellus
