Looking at this another way Galp could take Porto out for 7 mil which is less than they spent on the last well, or Sorg & Rag could take Porto out for a way less than what their commitment for spudding 2 deep wells would be, this is nuts @ .035

But there's the rub...how do we get them to move forward with Phase II when it would be cheaper for them to just buy the company?  Where's the motivation?  That's what they have to try to structure in a deal (which is likely what they are trying to do).