Ann: Philippines Assets Divestment Update, page-18

I'm kind of curious myself to be honest the whole deal on the Phillipines for quite a bit of work is net:

$2.5m USD to SGC because it's unlikely they don't at least get some oil out of Cadlao.

If it hits 5000bopd it's $8.2m USD + per annum.

That's not a bad bit of work also to have PNOC involved it actually brings some protection to the deeper drilling of SC58 so in some ways it makes sense they've rolled away all the hangers on and got some serious players involved being blue sky resources and PNOC. They don't have the funds anyway to do this first round of drilling. Therefore I'm guessing the share price is creeping on some news about to drop on their plans for North America.