Operatorship electionI have not read the Iam JV in its entirety so I can't confirm this, but I hear from a highly reliable source that the $5.5 spending threshold is important for two reasons. Firstly, it means they can elect to assume operatorship. Secondly, I am told, it frees them up to acquire MXI. I am told that there was a clause in the JV preventing a TO prior to Iam earning their 50%. Again, I have not confirmed this but it would make sense that MXI would have protected themselves from being taken out prior to having a chance to prove up what they have. If this can be confirmed then this acceleration of spending might be even more significant than we thought. Regardless, according to the website they have completed 27 holes(as of April 26) so we should be seeing a steady stream of results starting soon.