The short answer is that the current situation is undergoing a massive transition. As you know, yesterday, the IMF decided on a standby program for Ukraine of $17 billion. This is a big reform that is under way.
The answer falls into two parts.
As it was, until February, it was quite a hopeless situation for small and medium-sized enterprises. There are two good big western companies that manage to operate. Those are Chevron and Royal Dutch Shell. In order to find reasonable conditions, they have insisted on product-sharing agreements for their taxation, and they have managed to get such agreements. There are no good, small, independent companies in Ukraine that have reasonable conditions. You need the existing conditions to be big and strong, and that means when Canadian companies want to work together with Shell and Chevron, they can operate.
I'm not sure if either of these two has started the exploration for shale gas, but Shell is doing deep drilling on land and on shore. ExxonMobil was about to make an agreement with the Ukrainian government about offshore, off Crimea. I think that has fallen off the board for the time being, and for the future we will simply see how far the reforms go.
I have been dealing with Ukrainian economic reforms since 1994. From 1994 to 1997, I worked as a government adviser. I had some hope then, and then it became clear that it was stuck. This is the best possibility of a breakthrough that I have seen in Ukraine, so I have high hopes for a substantial improvement in [Inaudible—Editor], but it's not done yet.