The have about $90 million cash, so now selling at approximately cash value.  But that doesn't mean much. Not sure what their burn rate is going to be now, but still pretty high. 

Looks like they are playing the Tongan card - various hints that all the equipment can be used for those tenemants.  And the ships they were considering were "larger vessels that could be used anywhere".  Also mentioned that they can get a resource for these new finds in Tonga pretty quickly and cheaply.

The dispute is basically that the PNG government doesn't want to (or can't) put up any cash for its share until the project is a proven producing success. And Nautilus doens't want to (and can't) give away 30% of the project for nothing.

Was hoping that things could be resolved with PNG now that the PNG political situation has been settled. Prime Minister O'Neil has solid position and there are great hopes for moving forward with the Gulf LNG project that has been delayed due to the political chaos.

PNG government will be rolling in dough in a few years when these LNG projects are on line.