Quarterly Report - Profitable and Cash Flow positive?, page-8

I once asked Bahay about that.

He replied "Following the detailed feasibility study we completed for Shell QGC with exceptionally encouraging results, we were awarded (and recently completed) a pre-FEED contract, which was essentially a bridge to move the forward towards FEED, given FEED is a significant milestone requiring substantial investment, from the client.



We would almost certainly be required to disclose the award of a FEED contract, due to the materiality. And depending on the client and any partners (i.e. Worley), would likely also make appropriate disclosures, as relevant."