STX deal in a nutshell, page-147

Yes Barney bit to read into the CCS deal.
Apart from the staged cash benefits to TEG from PGY of $7.5 in 2 stages re initial NOPTA approval.
Then royalty if all goes ahead.
The liability overhang to TEG on CH if all goes to plan for decom will be gone. That has been seen by market and plenty as major TEG overhang moving forward. No doubt it has been.
From the PGY point of view I think that it was a hard to sell to potential investors of the CCS from PGY with the TEG still hanging in and involved.
This gives PGY a clear pathway for investors moving forward of the CCS with 100% ownership of CH and its Infra.
Still hurdles tho Barney as PGY will have to satisfy NOPTA on ability to cover decom of CH. Circa $30mil.
But a decent plan has been laid by both parties TEG/PGY "if" all goes to plan. PGY are certainly all in.
Happy to discuss further over at TEG Barney if more Q's.