700bbl per day cost recovery, page-36

What I'm trying to say is that IMC's timing won't be the SP by itself, it will be the macro environment. Of course the two are related, improved macro means higher SP but they will wait until they can make money on all their investment in the near term. They won't want to tie up more capital in the company without a very likely near term profit or favourable outcome of that investment. So the option trigger for them will be a big improvement in the marco and a much higher SP, probably in years rather than month's from now.