total ceo - in talks for uk shale project, page-19

well technically it is on an upfront amount. they state how much and when they plan to expense their dollars and each bid is assessed on their merits. The main merit being - which company/individual will explore the fastest and bring the most economic benefit - but naturally there are other considerations to be made such as the bidders financial capacity, track record, environmental considerations etc.. how many kickbacks you are willing to pay..oh wait this is not a construction company ? :P

Cheers,

SF