Northern Farms-Out 3 Po Valley Licenses

摘要

Northern Petroleum has farmed-out three of its Po Valley licenses (Savio, Cerasa and Longastrino) to Avobone Italy, a local unit of the Indofin Group, a private global investment company. Under terms of the deal, Avobone will earn 20% in each license through payment of back costs to Northern and a promote on the first well in each license.