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This excerpt taken from the MRO 10-Q filed Aug 8, 2005. Agreements with joint owners – In
connection with the formation of Equatorial Guinea LNG Holdings Limited (“EGHoldings”),
Compania Nacional de Petroleos de Guinea Ecuatorial (“GEPetrol”) was given
certain contractual rights that gave GEPetrol the option to purchase and resell
a 13 percent interest in EGHoldings held by Marathon to a third party. These rights specified that Marathon would be
reimbursed for its historical costs plus an additional specified rate of
return. The closing with respect to GEPetrol’s
exercise of its rights occurred on July 25, 2005.
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This excerpt taken from the MRO 10-Q filed May 9, 2005. Agreements with joint owners –
In connection with the formation of Equatorial Guinea LNG Holdings Limited (“EGHoldings”),
Compania Nacional de Petroleos de Guinea Ecuatorial (“GEPetrol”) was given
certain contractual rights with respect to the purchase and resale to a third
party of a 13 percent interest in EGHoldings currently held by Marathon. These rights give GEPetrol the option to
purchase this 13 percent interest and resell it to a third party. These rights specify that Marathon will be
reimbursed for its historical costs plus an additional specified rate of
return. If GEPetrol’s rights are not
exercised within one year from date of project sanction on June 22, 2004, the
rights expire. In March 2005 these rights
were extended until September 22, 2005.
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