Manitok Energy Inc MKRYF

Question about the "facilities agreement"

[Fernando2010]

I don´t fully understand the type of business that Manitok made in relation to its oil batteries and associated facilities.
Has Manitok sold those batteries for $ 15 millon, retaining the right to keep using those facilities to process their own oil?
does Manitok have the obligation to repay those $ 15 millon in the future?

It´s not clear to me.

Any clarifications will be welcomed

Fernando
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On December 30, 2014, Manitok entered into a facilities agreement (the "Facilities Agreement") with an arm's length third party under which Manitok received $15.0 million, before transaction costs, in exchange for beneficial ownership in oil batteries and associated facilities in both the Stolberg and Entice areas. Pursuant to the Facilities Agreement, Manitok has been contracted by the arm's length third party to operate the facilities over an eight year term and will continue to process its oil at the facilities over the same term. Under the terms of the Facilities Agreement, Manitok will pay an annual facility fee of approximately $2.2 million, which equates to an additional operating cost of about $1.30/boe based on current production volumes. The arm's length third party has granted Manitok an option to acquire the facilities during, and at the end of the eight year term.