b'In Block 6, ANP-STP has a carried 10% participating interest. The production sharing contract wasawarded in October 2015, and provides for an initial exploration period of eight years with possibleextensions and includes a first phase exploration period of four years followed by the second phase oftwo years and the third phase of two years. The block is currently in the first phase, expiring inNovember 2019. The next exploration phases are subject to fulfillment of specific work obligations. Inthe event of commercial success, we have the right to develop and produce oil and/or gas for a periodof 20 years from the approval of a field development program by ANP-STP, which may be extended foradditional periods of five years until all commercial hydrocarbons have been depleted.In Block 5 and Block 12, ANP-STP has a 15% and 12.5% carried interest, respectively. Theproduction sharing contracts were awarded in May 2012 and February 2016, respectively, and providefor an initial exploration period of eight years with possible extensions and include a first phaseexploration period of four years followed by the second phase of two years and the third phase of twoyears. The blocks are currently in the first phase, expiring in May 2019 and February 2020, respectively(the first phase of Block 5 has been extended twice for a total of 3 years). The next exploration phasesare subject to fulfillment of specific work obligations. In the event of commercial success, we have theright to develop and produce oil and/or gas for a period of 20 years from the approval of a fielddevelopment program by ANP-STP, which may be extended for additional periods of five years until allcommercial hydrocarbons have been depleted.In Block 10 and Block 13, ANP-STP has a 15% carried interest. The production sharing contractswere awarded in March 2018 and include a first phase exploration period of four years followed by thesecond phase of two years and the third phase of two years. The blocks are currently in the first phase,expiring in 2022. The next exploration phases are subject to fulfillment of specific work obligations. Inthe event of commercial success, we have the right to develop and produce oil and/or gas for a periodof 20 years from the approval of a field development program by ANP-STP, which may be extended foradditional periods of five years until all commercial hydrocarbons have been depleted.Suriname Exploration AgreementsIn December 2011, we signed a petroleum contract covering Offshore Block 42 located offshoreSuriname and are the operator. Staatsolie Maatschappij Suriname N.V. (Staatsolie), Surinamesnational oil company, has the option to back into the contract with an interest of not more than 10%upon approval of a development plan. The Block 42 petroleum contract provides for us to recover ourshare of expenses incurred (cost recovery oil) and our share of remaining oil (profit oil). Costrecovery oil is apportioned to the contractor from up to 80% of gross production prior to profit oilbeing split between the government of Suriname and the contractor. Profit oil is then apportionedbased upon R-factor tranches, where the R-factor is cumulative net revenues divided by cumulativenet investment. A corporate tax rate of 36% is applied to profits. We are in the second period of theexploration phase, which ends in September 2021. There is one additional period consisting of twoyears, and carries a one well drilling obligation. In the event of commercial success, the duration of thecontract will be 30 years from the effective date or 25 years from governmental approval of a plan ofdevelopment, whichever is longer.In December 2011, we signed a petroleum contract covering Offshore Block 45 located offshoreSuriname and are the operator. Staatsolie will be carried through the exploration and appraisal phasesand has the option to back into the petroleum contract with an interest of not more than 15% uponapproval of a development plan. The Block 45 petroleum contract provides for us to recover our shareof expenses incurred (cost recovery oil) and our share of remaining oil (profit oil). Cost recoveryoil is apportioned to the contractor from up to 80% of gross production prior to profit oil being splitbetween the government of Suriname and the contractor. Profit oil is then apportioned based uponR-factor tranches, where the R-factor is cumulative net revenues divided by cumulative netinvestment. A corporate tax rate of 36% is applied to profits. We are currently in the second period of35'