This deal with the IDC is for 45% of 20 wells in ER 12/3/271 only, this is what they are calling the AGDSA Project.
Total Project budget is R$155m and IDC will contribute R$70m of the Project costs to develop those 20 wells only.
The IDC appear to have also gained first right to any additional future projects, such as this one, up to a max of 80 wells. They would not be doing this if they did not see huge potential in KKO, and it doesn't mean the same deal/dollars will apply to future projects.
This is a great announcement, but you need to read into it. Clearly KKO are trying to make a win win situation for both investors and equity partners.
Keep your eyes on the big picture people
Ann: IDC to Co-Invest in Gas Field Development, page-10
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