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BRIEF-Strata-X Energy Executs HOA With Botsgas For Staged Farm-Out Program

Published 05/03/2020, 12:20 pm
Updated 05/03/2020, 12:21 pm
© Reuters.  BRIEF-Strata-X Energy Executs HOA With Botsgas For Staged Farm-Out Program
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March 5 (Reuters) - Strata-X Energy Ltd SXE.V :

* EXECUTED HEADS OF AGREEMENT WITH BOTSGAS FOR STAGED FARM-OUT PROGRAM DESIGNED TO DE-RISK SEROWE CSG PROJECT

* IF ALL STAGES ARE PROGRESSED, BOTSGAS TO FUND ALL ESTIMATED COSTS TO DRILL, COMPLETE, TEST UP TO 19 WELLS SUBJECT TO COST OVERRUNS

* IF ALL STAGES FOR 19 WELLSARE COMPLETED & TESTED, BOTSGAS WILL EARN UP TO 49% STAKE IN STRATA-X'S TENEMENTS IN BOTSWANA

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