Valiant Petroleum plc announces that it has signed a Farm Out Agreement with Agora Oil and Gas (UK) Limited in respect of the Tybalt appraisal well, located in Blocks 211/8c & 13c in the UK Northern North Sea. Agora increases its interest in Tybalt to 40% in return for a partial cost carry. Valiant will remain operator with a 60% interest.
The Tybalt well is currently drilling ahead with the Borgsten Dolphin semi-submersible rig, with results anticipated in May.
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