yes... first 33mill was covered by galp... the remaining 40mill...

yes... first 33mill was covered by galp... the remaining 40mill (ie; estimated total drill cost 73mill -33mill free carry =40mill remaining), was then to be split galp 2/3, tpt 1/3... in fact anything above 33mill for the drill was to be split in this manner...

so for a 73mill drill, taking 33 away, and leaving 40mill, means 40/3=13.3mill for tpt...

that was based on the estimate for a dry-hole with any problems drill...
galp still had tpts 7.5mill so 13.3-7.5=5.83mill would still need to be paid... but tpt had a quite a bit of cash, and so if they then paid this remaining amount it would have left them with at least 10mill+ cash...

however, someone on here posted that the MD stated that the drill went over 4 days... even though many observers calculated it to have come up short... so who knows how exactly the days are calculated, and how the overall drill-costs are formulated...

either way, we shall soon see... the CFO has gone, we got 2 new ones.. haha... who are connected to someone who seems to lap up similar companies (based on other posters opinions), so just hope they have some more capital to be able to move into a decent project very soon...