We are talking about Texas. You have been sheltered from them and they way think and do business and most of all, the expectations of how others interact with them. The people in Austin have made no secret that they are gone by 2022. If for no other reason that is "their" magic date. Officially, they have set July 1 2025 because they do not want to challenge the GOR and instead wish to negotiate. But the target date is definitely July 1 2022 and freedom. I am not privy to all the banter between the Big Heads, nor do I really want to be, but enough of it trickles down in carious places that a decent picture can be constructed. I am sure there are reason I do not know of or even think are worthy of being reasons but for Texas they use the word feasible. I assume it had something to do with the exit fee.

The SEC is not going to incrementally pay Texas or Oklahoma, they will get full shares on Day-One. That goes a long to off setting the enhanced exit fee. The funny thing, both Texas and Oklahoma have boat loads of cash sitting in preparation for this move and can pay it today, but of course they want to spend as little of that as they can still leave by July 1 2022.

My apologies for not being more helpful. I can only pass on what I pick up from people who are doing the same. I am sure there are many errors in the chain of communication.