Agreements...LOI? Non-binding?...
...It's a good thing.
I know many prefer binding or definitive agreements but at this stage where PSC is still infant and waiting for licenses, having all options open for when it's open for business is better in my opinion. You don't want to be desperate for deals just because you're late to the party and lock yourself in that you may not be able to get out of. Best deals right now do not mean there won't be better deals by the time PSC is ready to go. Being late to the party, you have that privilege and you want to take advantage of that to the fullest. You got PSC, you hold the hammer, you get to pick too. Don't sell yourself cheap, thinking only others get to choose you.
Some brought up the fact that AGRA is late to the party and to me, that's a blessing. There are many choices and opportunities available going forward. Remember, we hold the hammer.
Many small LPs didn't want to be taken over and tried to get big themselves prior to leg, and looked like they won't be going anywhere. Some got excellent stuffs but don't have enough for sale to generate the revenue needed to go higher or even justify their current valuation. Yes, they're all looking for big growing space to expand but you don't hear much now because space is premium. This will force them to JV with someone with growing space or hoping to be bought out. Will be at a much cheaper price too if to be taken over. Remember those takeovers worth hundreds of millions or some topped the billion mark prior to leg? Yeah, it's a blessing alright. So even if EHC doesn't pan out, it's just one. There are still others out there.