Well, it's time and circumstance. I'm not trying to pick peas with you, but we didn't make an offer; we expressed an interest at a certain price level--since the lawyers would have a problem with the word “offer”. We're prepared to move it to that level, but it's not there now.
You must understand, this turnaround is a major, major, major issue. We were faced with closing regardless of what we did. The term sheet we exchanged with Shell provided that on June 26 we would sign an agreement by July 26; that's 30 days. We've got to move two sets of lawyers and all that stuff and understand the business issue, and it's 30 days. We've worked around the clock on deals and we could do it again; we know how to do it. So in spirit we'll agree; we'll sign an agreement in 30 days.
The other condition was that we close within the next 60 days following that 30. That's a very, very short timeframe to get all the approvals, to get the financing, to do all the things that are necessary. We said we would agree to that and go forward on that basis. How much furnace money we have to put up, recognizing the risk we take on those timeframes--we needed to talk about that. But in terms of the spirit of getting this deal done, we'll do that.
It did not matter if we had met both of those timeframes. That refinery was going to be closed because you could not do the turnaround. Prior to that, we explored with Shell: we'll put up the front money, you get it started; you get it started, we'll pay you back. That was a problem. I'm not questioning that internally it didn't have a right to be a problem; it just was. We explored the ways of trying to hurry up and do it.
Even if we had resolved that, it's not likely, in my humble opinion--well, in my opinion--