The company has said it will extend its contract. So until now we have yet received the feasibility studies.

This normally takes several months but we will try to complete it in one month.

The amount is not known yet because exploration has yet to reach the ground. But based on preliminary information, the gas reserves is quite huge.

Merrill, relative to its historical valuations at this stage of the cycle, is quite cheap. And (the company) will of course enjoy some recovery probably over the next few weeks as it has in the last week, as worries about the interest rate environment subside.

That's really the big question for me. Will the company be here in 10 years?

Jonathan has been a star of the company for a generation and we are all thrilled that he will remain at Covent Garden.