My point is simply to protect your downside. The downside occured last year. It could happen again. A hedge now simply guarantees a cash flow for a set time. While Algar is being built a guaranteed cash flow is nice just because of the current volatility. If things were not so volatile then maybe less hedging is needed. At $45.00 POO CLL and many other oil companies won't fare well. With an $80 hedge and POO at $45 then you are at least getting $80 for 5000 bbl/d and the balance at $45, which maintains cash for Algar being built. If POO is at $45 after hedge ends you just have to deal with it, but at least Algar will be done.