Not sure who the buyer of Roosvelt is but they would have to be...

Not sure who the buyer of Roosvelt is but they would have to be stupid to take this on without having the necessary funding lined up as it sounds like a binding agreement. Perhaps they have done a Nathan Tinkler and they can't complete for various reasons. Form memory Tinkler strung Blackwood along for months before they finally took him to court and he then agreed to settle the matter by him paying $12mil from the $30mil of stock he originally agreed to buy.

Not sure what penalties we are in line for and these are American co's as opposed to Aus companies.

I think we are in a good position and the mention of the vertical targets in Roosvelt as others have highlighted could be a clue to the future.

If the CNOOC deal for Hawk Springs was done after the Roosvelt deal was done. Now that we have the option to back out, I bet Terry is shopping the Roosvelt deal around and that would include CNOOC. Busy times at the SSN head office !