Thursday, June 15, 2017 4:09:30 PM
Here is the language from the recent (June 7) S1A filing:
" SAPETRO and SCS further agreed that SAPETRO may elect to pay for a portion of SCS's Fatala-1 well costs so long as SCS is not in default of either the PSC or the Farmout Agreement and requires credit support. In case SAPETRO makes such payments for a share of SCS's costs of, SCS shall assign to SAPETRO 2% of its participating interest in the Concession for each $1 million of SCS's costs paid by SAPETRO."
Having said there is no guarantee- I would believe it is highly likely Sapetro would provide such funding as they have very favorable terms and a current stake in the drilling success, but there is no contactual obligation to do so.
JMHO
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