On completion, subject to confirmation of funding and regulatory approvals, IOG will become operator with a 100% interest in the license.
An initial work program has been proposed for drilling of a commitment well in mid-2016. This is subject to an extension of the license, which currently expires on Sept. 30.
IOG is in discussions with an unnamed party relating to a rig contract for the initial well and likely subsequent development wells on Skipper.
It has signed a letter of intent to secure funding which will hopefully be in place by mid-August.