Whacky, it is very significant that they are at the LOI stage with Iraq. This means many rounds of talks and negotiations have taken place over the last year since we first heard of Iraq. My opinion is that if QS is mentioning this LOI now, it has likely gone through many revisions and translations over the past year that Iraq has been in play. I'm very confident of this. Every document would need to have been translated so I don't see this translation as anything unexpected. I doubt we will get to read it, and yes it would be a material event. Any LOI with an oil company would be a material event if it is for sales of the product. I think this deal with Iraq could be absolutely huge ultimately resulting in a multiple dollar share price for QSEP, depending on how they structure the deal. We shall see. This would definitely be a cash sale imo, I don't think would entertain a lease internationally. Any cash sale would do everything we need to see; industry adoption, technology validation, not to mention puts cash on QSEP's balance sheet.
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