DERM x $1b capex code x current market conditions (lending/cash...

DERM x $1b capex code x current market conditions (lending/cash is scarce)= Time constraints.

If you look closely progress is being made.

PB did sell Galilee and the royalty money will come, even though there were many here talking it down before it occured. There was even a dividend. ERG and Rancher are well on their way to producing good long term cashflows to build upon and bopd are progressively increasing.. UCG is progressing well in the US and coal leases are being gathered cheaply around the world.