PDude, on the surface, I see what you are saying. However, I think they came to the realization that it was going to take way too long, and be way too costly to completely build out Europe. They simply don't have the structure to do it.
So, they either sell the company, and/or Europe to a BP for a very small premium now, or they partner, get some nice chunks of cash, plus royalties, become profitable and cashflow positive immediately, and turn their entire focus to the new formulation and taking back the U.S. market.
Don't forget, Europe is now immediately a profit center, as opposed to yesterday, when it was going to be a cash drain for years to come.
We also don't know what their ultimate goal is, or what Europe may mean in the future.