Ann: Bear Head LNG Takes a Major Step Forward in Canadian Process, page-7

I think you could make a pretty persuasive argument as well that on current prices BH isnt really factored into the SP or factored in at a very high discount rate.

As we see further developments, and bearing in mind the construction work that has already been done by the previous owners giving BH a timing and as seen today regulatory head start, the market will be forced to attribute some real value to BH.

Biggest outstanding issue re BH in my mind, apart from tolling interest which we know from management has been strong, is the equity funding piece and how much of the project they intend to retain and the capital funding plan for LNGs contribution however big or small that may be. Im sure there are already talks underway with potential interested parties. Or this latest regulatory green light may be a precursor to more detailed discussions.