Sunset Date Established and Bearish Summary, page-382

Hi Moshey, MMR owns 48% of Advent. Given they are currently borderline insolvent, they are not in a position to contribute to their pro-rata share of ongoing costs of PEP11. In the short term, their share is covered by BPH which will see BPH's ownership % in Advent increase and MMR's ownership % fall. When Flam is in one of his "doom and gloom" modes, he regularly theorises that Advent won't be able to fund the drill due to MMR's lack of cash. I completely disagee with this theory, there are several other avenues Advent can use to fund the drill without MMR.