On 22 September 2017, Delonex Energy Limited (Delonex) announced that the Share Purchase Agreement (SPA) with United Hydrocarbon International (UHI)âs wholly owned subsidiary United Hydrocarbon Chad Ltd. (UHCL) was closed, approved and completed.  Terms of the agreement -Â Â Â Â Â Â Â Â Â  Delonex paid USD 35 Million to UHI. -Â Â Â Â Â Â Â Â Â  An additional payment of USD 50 Million will be made in case of successful drilling (USD 30 Million at Doba B, USD 20 Million at Block H).  -Â Â Â Â Â Â Â Â Â  UHI will retain a 10% royalty of Cost Oil and Profit at Doba and a 5% royalty on Block H, payable unless Brent Crude Oil < USD 45 for a quarter. Â  Delonex commitments  -Â Â Â Â Â Â Â Â Â  To spend USD 65 Million on exploration in two years including 2D and 3D seismic surveys -Â Â Â Â Â Â Â Â Â  To drill at least three exploration wells in the blocks area. -Â Â Â Â Â Â Â Â Â  Further payment of USD 35 Million on development in Doba region if commercial success. On 10 May 2017, UHI announced that it entered into an agreement with Delonex for the latter to acquire UHI Chad. UHI Chad operates the Largeau III, Lake Chad, Doba B license with a 75% interest. Partner is the state company SociÃ©tÃ© des Hydrocarboures du Tchad (SHT) that holds the remaining 25%. Â 
Chad (Chad B.) ? op. by CNPC (90.0%, SHT 10.0%) in Lake Chad block