By an OGJ Correspondent
KARACHI, Sept. 17 -- Pakistani-based Dewan Mushtaq Group has acquired 57.5% interest in the Safed Koh exploration license from Rally Energy Pakistan Ltd., a subsidiary of Rally Energy Corp., Calgary.
Rally said the transaction leaves it with 22.5% interest in Safed Koh Block, covering 1,213 sq km and including three large structures: Rodho, Afiband, and Zindapir.
Terms of the deal call for Dewan Mushtaq to pay a maximum of $2.5 million for Phase II drilling expenses, Rally said.
The partners plan to re-enter an existing natural gas, condensate well at Rodho structure and explore the Lower Goru, Sembar, and Chilton formations.
