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Krombacher

05/09/20 9:29 AM

#338414 RE: ssc #338413

Big difference.

In the CEPSA deal, erhc owed them $10 million for drilling fees with no free carry and no sizable up front cash (although business development expenses were paid).

In the Total contract, we know a sizable consideration is paid up front. We know this even though the actual amount is redacted because

1) the Kosmos contract was $700k and erhc and Total would not spend several years in litigation over multiple continents if Total's consideration to be paid wasn't sizable.

2) the Total contract states there's an upfront consideration