COST RECOVERYAs it relates to the outstanding debts owed by CGX - I believe the majority of these costs (including interest) are cost recoverable.
In other words, once CGX makes a commercial discovery - costs associated with the finding the resource (exploration, seismic, etc) and the extraction (development drilling) are allowed to be re-couped under their PSA with the government
This will be an important component to the JV negotiation - how they work around the costs CGX has already incurred and the eventual reimbursement (i.e. cost recovery).