Replies to post #31824 on Treaty Energy Corp. (fka TECO)

[Belize Oilwatch]

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.