I am guessing this means that free cash flow for exploration is likely to become available in the second half of the year. It would explain the crickets from Dave.This is all kind of contentious anyway. Cabot would have been negotiating their exit from the Formate fluids business at the same time they were negotiating with PIO for new product. I doubt very much whether Dave would have known that. I would have been pushing quite hard for a stunning deal in that situation if I knew Cabot were trying to convince someone to buy a business whose supply could dry up pretty quickly.
Knowing that, I think it is safe to say that the deal we got was probably fair all round. The payment terms don't seem too onerous, and maybe Cabots have some nefarious motive for the extended time frame, I don't know.
Safe to say that the money is coming. Maybe it is best that DC and crew don't get lottery win happy with it by getting it in one chunk......
As you know Lockitt, I have had my issues with the way this company has been run in the past and its communications with shareholders. But, PIO now has a genuine opportunity to prove up the deposits that we have into saleable/developable parcels. That should develop some substantial shareholder value over the next 12-18 mths imo. Lets hope that DC does not follow his propensity to chase the new black of the commodity space, and sticks to the knitting he already has, because if the tenements we have are all we have been led to believe, we can all stop grumbling in a year or so.
