As far as I can see the funding is just a loan, and will be paid back once production begins:
with up to US$14m of funding for operations relating to the development of the Athena Field. Loan interest and repayments are to be paid out of Zeus' future share of the Athena gross oil revenues.
So Rheochem will be getting the full 2,000+ bopd as far as I can see, of course I do stand to be corrected but from the above I can see no reason to believe otherwise.
Just to note, on the Ithaca front they have just announced a deal with Ithaca where they will be getting no part in production, just options over 2.5m shares at CA$2.25:
In terms of the old Ithaca deal, it was nothing like this one, it was in relation to them having the right to partcipate in any sale of stake:
In exchange for and in consideration of Gemini's waiver of any right to proceeds from the disposal of equity interest in the Athena discovery and in substitution for any previously awarded or agreed warrants.
RHE Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
