So, I'm a little confused.  In the presentation they talk (in detail) about Option 1 as being virtually a done deal and yet they feel the need to even mention Options 2 & 3. Why?  It almost seems like some kind of 'in the public domain' negotiating tactic. 'Don't worry guys, if things fall apart with a major partner we can still get it done'. If negotiations/discussions or whatever with a BP are as close to being finalized as they suggest, is even mentioning options 2 & 3 necessary?  If I were the potential partner in Option 1, I might be wondering 'what the heck are we doing here. Are you trying to pressure us??'

Maybe they are just trying to reassure the investing community that things will progress even if Option 1 doesn't pan out, I get that, but again, if you're that close why bother? You can always do it in a PR when negotiations have actually broken down.