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Post# of 116863
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Belize Oilwatch

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Belize Oilwatch

Re: Shizoku post# 31824

Wednesday, 05/09/2012 6:50:55 PM

Wednesday, May 09, 2012 6:50:55 PM

Post# of 116863
Article 3.2 of the option agreement between Princess Petroleum and Treaty Energy Corp states that only 80% of the production from the Princess Concession is applied for Contractor (Treaty) Cost recovery. Not 100% as you state.

The overiding Production Sharing Agreement between Princess Petroleum and the Government of Belize states 100% of Petroleum to be initially applied to cost recovery.

Think it'll be an accounting nightmare with these different cost recovery percentages. IMHO.
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