Of course it would show on their books. They can't be racking up debt in weird little companies and pretending it has nothing to do with them. We're talking billions in debt.

They'll put the reserves in as an asset, their share, and the debt they're committing to. Even though we might owe them for our share our guarantee is not worth a whole lot. So they've got the debt to the asset which they only own 75%.

I'm not an analyst but I think this will cause some problems for them.

I have to go out but later I'll try and look at the recent PVG financing to see if it gives us some information about how these things work.