Nowhere was there a Teck backs in under a completely new agreement, poke a sub standard amount of holes in the ground for a few years and spend all their free money in the oil sands.

One of the problems with the old Agreement was that Teck could have spent a minimal amount of money each year earning their 75% and we would have been left with no funds. We would have had to go to the market for money to keep going until Teck or someone else came along to buy us out. The stock price would have been at this level and we would have been without cash possibly for years. Elmer had to push through and submit that FS once it passed the NPV8% line because he couldn't afford to wait another year and do more drilling, then a new RE, then a revised FS. It would have killed us.

Under the old Agreement, there was no reason for Teck to buy us out immediately because they could have taken years to drill and start pre-development work like build roads before they needed to spend the money buying us out.

In our current scenario we have the cash to tide us over for a few years, so at least we know we are stopped at this number of shares. We've got the 10,000 metres of drilling that should prove up the waste to the degree that it is possible, and we could get a new RE done with the results from the drilling if Teck doesn't produce their own. Drill results in hand we can offer a deal to Teck and then go to the market and shop it around if they balk. At least it puts some pressure on Teck to act now rather than years from now.