Ann: Large Prospect to be Drilled in Alaska - 1Q 2019 (Revised), page-15

Yeah.. an opportunistic grab
Great bear were running down their ten yrs on the lease.. dropped some tenements in western central area already.. received a 3yr extension on the horseshoe lease but with bond payment only refundable if a well is drilled by may19..
Enter 88e oel and rmp

In fact.. the great bear 10% free carry becomes no freecarry for them if they want 20%.
-Cos if they decide on 20% share before spud then they must cover their full pro rata costs..
-if they decide on 20% share after the drill, they then have to fork out 200% of their share of the initial well costs.. so they would have to payback about 40% of the original costs..
Meaning it would be 88e oel and rmp receiving back a 20% discount or so on their working interest..

Unless i have misinterpreted it...