ERHC Energy Inc (ERHE)

[Krombacher]

Kingpin and I have discussed whether or not the up to 15% option comes from STP or not and whether the upside in Block 11 is one of the options exercised by ERHC, since STP can have up to 15% of any block in the EEZ...

...but I'm thinking that ERHC's upside piece in Block 11 is exactly 15% based on this, which suggests that ERHC retains the 15% that would ordinarily go to STP:

A second payment of USD 100,000 into the National Oil Account of São Tomé and Príncipe was made on account of the transfer fee on the cession of 85% of the contractual position of ERHC to Kosmos Energy, in Block 11;

From the PwC report PDF page 18.

https://eiti.org/files/documents/eiti_relatorio_2015_english_version_final.pdf

Krombacher