Ann: Rafael Resource Update and Regional Exploration Potential, page-35

1) if you were offered upfront cash
2) because it’s not a binary discovery/duster thing - there’s also the possibility of proving up a concept but not necessarily commerciality. Or some drilling stuff up, as we are all too aware, just when it looks like you got a gusher. So you want to leave open a path forward for the Partner to give it another whirl.
3) BRU are in no position to sole risk anything right now.
4) So you have a deal structure in place that may be readily enlarged to include ConGas Exploration. I’ll be looking for the words “Preferred Partner”…