Jesimore,
The announcement said that it no impact on their cash balances.
I think it's more of an accounts write-off, in that they had previously considered that money as a future receivable (re. funds loaned to CESL), which has now been written off.
More to the point, it would have cost them real cash to continue the license and proceed with futher seismic / analysis / testing etc.
Cheers.
how much left in the kitty, page-2
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