PRB and FWR are very likely JV's but FNC? FNC is likely expecting far way too much in the extreme. Best FNC put it's money where their talk is. On the line - ie. in the ground, and if (big if in my estimation) they can pull something out with their money then they can settle for a reasonable JV deal (reasonable from NOT's perspective). Otherwise they are very likely seeking far to much in any JV deal. Such that they likely deal themselves out of the ability to ride on the NOT coat tails. Good Luck to FNC, as they will need it. Old Joe