Ann: 2018 Full Year Statutory Accounts, page-8

As I see it PIO have divested themselves of their best near term asset, which needed very little financial resource to retain, to chase a yet to be identified rainbow. All supposedly to be funded by a few trailer loads of various types of dirt from Sinclair the pricing and quantity of which is as yet undetermined or undisclosed.

Now i say supposedly because if it was clear Sinclair would provide the funding to chase the rainbow then the placement (read CR) and the additional handful of cash would not have been needed NOW.

Hard to see a SP turn around here anytime soon.