Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-11

Yer I don't read it that way. My view is She'll had the option to:
a) Take the report and file it away
b) Continue discussions and collaboration on the back of what was learnt from the feasibility study

Shell has chosen to do the latter, i.e. Keep the door open rather than close it.

The feasibility study tests feasibility, it doesn't design a plant ready to proceed to build, the twelve month extension IS Shell signing on for more rather than walking away. That is just my quick take, I don't have time read the report in full now.

If I have this wrong I would appreciate anyone pointing out the contradiction to my understanding above.

Thanks all.

All IMO, please DYOR and GLTAH.