Incorrect again, it is a prepayment of the first US $ 7.5...

Incorrect again, it is a prepayment of the first US $ 7.5 million of costs, any amount over will be payable in cash

The New Shares will be issued as a pre-payment for services and are to be held in escrow and subject to certain restrictions. The New Shares will only be released from escrow following approval by 88 Energy. The vendor has the option to dispose of the New Shares, subject to certain restrictions under the escrow arrangement, however any proceeds will be held in trust until the associated invoices are received and approved by 88 Energy. A reconciliation and final payment of any outstanding invoices (in cash) is to occur following completion of Merlin-2 drilling operations.