Meta Materials Commences Drilling Operations In Orogrande Project To Maintain Lease Compliance
Meta Materials Commences Drilling Operations In Orogrande Project To Maintain Lease Compliance
Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT) a developer of high-performance functional materials and nanocomposites, today provided an update on the Company's oil and gas assets and operations. Four wells must be drilled in the Orogrande project in 2021 to hold the lease for sale or spinout. Two wells are being drilled this month on one pad site, and the Company expects to begin drilling a second pair of wells on another site in early November. The Company believes that upon completing the drilling of these four wells, the Company will be in compliance with all aspects of its lease obligations, and the CDC (Continuous Drilling Clause) with University Lands on the Orogrande project will be satisfied.
高性能功能材料和纳米复合材料开发商Meta Materials Inc.(以下简称“公司”或“META®”)(纳斯达克股票代码：MMAT)今天公布了该公司油气资产和业务的最新情况。2021年，奥罗格兰德项目必须钻4口井，才能持有出售或剥离的租约。本月，该公司正在一个PAD地点钻探两口井，该公司预计将于11月初开始在另一处地点钻探第二对油井。本公司相信，在完成这四口油井的钻探工作后，本公司将全面履行其租赁义务，并将履行与University Lands就奥罗格兰德项目订立的CDC(持续钻探条款)。