Carcetti Capital Corp V.CART.H

Increased Ownership in Kub-Gas

[maramos98]

Cub should be getting close to receiving an additional 2.5% in Kub-Gas. From Feb 2016 PR: The Company has the ability to further increase its ownership interest from 35% to 40% of KUBGAS by: 1. earning an additional 2.5% ownership interest from Resano when Resano has received a cumulative US $25 million in dividends from KUBGAS; and 2. an option to purchase within one year of the above-mentioned 2.5% transfer from Resano a further 2.5% ownership interest in KUBGAS at a price equal to 2.5% of the net present value of 2P reserves at a 10% discount at the time of exercise.