Agree with your assumptions "CK", and do think that there is more to this than disclosed thus far by SNEY/SP who is holding all the cards, .... your sequence of events is well calculated yet not matching PR's time line, therefore, either there is more taking place unknown to us behind the scenes,(as I believe) or a future 2013 PR will move the cash flow timeline forward, ....... and the waiting continues. I suggest, turn off your computers for a week at a time or longer vs. the stress of looking at this daily.

Medhi is a good man however up in years, Mr. Houck, his replacement with much experience, contacts, and success behind him should bring new energy to this company, and I hope a positive impact,..... if allowed.  I wish this PR had been released 10-15 days earlier, somehow the longer gap between PR's diminishes it's effect.  JMO.  RMC.