It doesn't matter whether the concept is right or not if EPG...

It doesn't matter whether the concept is right or not if EPG can't find the money in two years. Heck, if the concept is proven but EPG can't raise the money, the "hydrocarbon tycoon" will be extremely happy, as he'll take EPG's assets when it is wound up.

There's no way EPG can get production going fast enough to generate 35 million euros, so they're relying on a capital raising, either through a French listing or some kind of equity issue. That may or may not be possible, depending on the broader economic and financial situation.