Pedevco Corp. (PED)

[verdiking]

Is there confussion?

Under the terms of the revenue sharing agreement, Reliance will operate the lateral jetting rig at no cost to Blast and will share 50% of the revenues. The rig has been contracted at a gross rate of $20,000 per well for the current five-well Abilene program, but with success in stimulating production, the rate is expected to double for the Austin Chalk.

I read this and understand that the rig generates $20,000 per well and we get half of that. Reliance gets half but has the provide labor to run the rig.

I think others on here read this and understand we get $20,000 per well plus half of the revenue generated from the well.

Which is correct?