market reaction to total, page-74

In any case there is a difference betweeen talking to option holders and guaranteeing to get the money from them. Anyone who took this as something guaranteed is silly. Nobody can make a commitment on behalf of a 3rd party in such circumstances. The commitment was to try to convince them to part with some money in "their own best interests" from memory, but that was very early and he may have moved onto plan B. Given that he has achieved fair and reasonable deals so far (easily benchmarked against similar transactions) I really can't see the big issue on this one.

I am comfortable that he has a financial plan to bring Surprise into development, and while it was a little unclear I believe he mentioned in the presentation that he intended to take a plan to the board once all data was in hand, possibly around end of month. This timing seems about right as 3D interpetation takes a fair while and it was not that long ago that the processed data was received.

So you need a development plan before you know how exactly how much funding you need, and that will depend on the EPT results and final interp of the 3D. I am sure though that they are working up a plan on an early rough estimate of development costs and they will refine once all data is in.

It could be debt funding, it could be another partner. But I am confident based on what we have seen to date that planning is in place and ongoing.