Assignment agreement Borgland Dolphin
Published on Thu, 22/09/2011 - 14:56
Front Exploration AS is pleased to inform all of the shareholders that on September 22nd, 2011, Front Exploration signed an agreement where all of Front Exploration’s rights and obligations in the Borgland Dolphin consortium were assigned (transferred) to Statoil Petroleum.
Front Exploration was a member in the NCS II Rig Consortium that has commenced operations on the Borgland Dolphin under an approximately 4 year contract with Dolphin AS. FrontX had two rig slots of 50 days + 7,5 buffer days each, with estimated commencement date on 13nd ,July 2012.
Completion of the assignment is subject to assignment of 3rd party contracts.
