Consideration of circa $67 million will be paid to Pilot by...

Consideration of circa $67 million will be paid to Pilot by CHCCS Co (a new to be incorporated joint venture project entity) at financial close which is based on historical construction costs of the Cliff Head oil project which forms the foundation assets for the MWCEP. This consideration is subject to a minimum forecast IRR for the CH CCS Project to be agreed between the parties.

The conditions to completion of the MOU are the following:
National Offshore Petroleum Titles Administrator (NOPTA) declaring a Greenhouse Gas Storage Formation over the WA-31-P area;
completion of the integrated project pre-FEED study; and each party’s final board approval.

Well that answers the question about the NOPTA approval.
If that NOPTA approval comes this will fly.