I’m going to talk a little bit about the deadlines milestones. this is everything that the bidders need to kind of keep in mind throughout the auction process. You know, this is your to-do list this is everything that happens in the order it happens. So on August 16, we published the proposed sale notice, that came with the 60-day comment period and we’re right about smack in the middle of that comment period now, so you see the during this whole time we’re accepting and processing new company qualifications and then — September 20th–we will continue to accept and process company qualification up until the close of the comment period on october 17th. We’re expecting there will be sometime between that October 17 and January. we’re projecting right now, during which it we need to and take the comments into account, see what needs to change, what updates we think–you know the whole point of public comment period is to get good suggestions from people who know and incorporate them where we can and that’s what we’ll be doing during that period. And then, we’ll publish the final sale notice. That’s really where all of the final sale details are included, including, you know, specific dates of when the sale will happen. Right now we’re projecting that for March or although you know it’s a projection, schedules sometimes move around, but right now our best guess is March. So during that time period, which you can see up here it says is here is typically 45 days, it can be no less it can be no less than 30, according to our regulations. So it will be at least thirty, it could be more. We aim for 45 days because there’s really enough here that’s happening that if we were going to put in 30 days, it starts to feel tight so during this period of time, which we call the waiting period between the FSN and the sale we have the due date for the what we call the BFF the Bidder’s Financial Form and that has information about who is authorized to bind the company in the sale, we should send bidder authentication tokens to, who we are expecting to participate in the sale. Sometimes a couple weeks after that the deposit will be due, four hundred and fifty thousand dollars is our bid deposit per lease area. Here, there’s just one lease area, so it’s four hundred fifty thousand dollars. That money will come back to any bidders who don’t win a lease. So, this is really just–we’re holding this to make sure that you’re serious about this and it’s a down payment on your bid in the event that you are the provisional winner. And then we’ll hold a mock auction a few days before the actual sale. this is really brass tacks. This is not open to the public. It’s open to the bidders, and its really there for everyone to get familiarity with the auction software, so they’re not seeing the first time on auction day. But it’s not something that we can make available to everybody. And then we hold the lease sale, and our current projection for that is in March. Okay, so this is on auction day, and this is kind of the steps to expect on auction day. You’re going to see screenshots, I think, or modified screenshots a little bit later in the Power Auctions presentation, but conceptually at least, login will be enabled somewhere I think around eight in the morning, then the first round will start sometime shortly after–maybe a half hour after that. The round opens there’s a period of time during which bidders can submit their bids which is really just saying yes or no whether or you’re interested in the lease at the price that we announced. We have– right now, tentatively, the opening price will be $244,800 dollars. That’s where the bidding is starting, so there’s no– where the bidding is starting, so there’s no– we wouldn’t accept any bids below that. The round closes after I think 30 minutes for the first round, people are still getting used to what they’re doing, and then we process the results for a few minutes to make sure all the bids are in, that all the information is clean, that we’re looking at, and then we post certain information to the bidders. bidders get some information about who else–how many people are still in the sale during the sale itself. So we post that information, and say, “in the last round received so many ‘live’ bids.” A “live” bid is a a full-price acceptance of the bid price. That would be the number of bidders who say, “yes I’m interested in the lease area at the price that you announce.” if there are two or more bidders, who are interested in lease at the price that we announced, then we’ll continue for another round. We’ll increase the price. Price increases are within our discretion. we have some internal guidelines that we use to decide how much to increase the prices. The goal is to not increase the prices by so little that auction takes forever, but also not to blow past, you know everyone, and raise it so much that everybody drops out at the same time. So that’s kind of the internal discussion, but we will post the next round’s price, and then subsequent rounds after the first round you’ll see we have 10 to 20 minutes. The first time is longer because people are still getting used to things. As the rounds go by, we will be–rounds shouldn’t take as long. It’ll go quicker. Then, usually delayed by about a round or two, we’ll post information to our website for the public. so people can follow along what’s happening, and so on and so forth. We’ll raise prices for as long as there are two or more bidders in the auction and then once everybody’s…Now, once we have one round where there’s one or zero bidders know that’s the end, that signals the end of the auction. Okay… Following the close of the auction, we stop posting stuff to our–posting results to our website, and we will hold a press call and announce the provisional winner. And then–that may–now that’s still the day of the auction, and then, according to the Outer Continental Shelf Lands Act, part c–1337(c) we have the Department of Justice and the Federal Trade Commission, have 30 days to review the results of sale for antitrust issues. Sometimes, its market concentration analysis, if there were antitrust problems, after the end of that period they send us a letter. that letter historically has been, you know, a simple letter saying we’ve found nothing of concern, you may proceed. We refund the bid deposits to the non-winners of the lease sale. We may refund those bid deposits before the DOJ review. I think we do but in any case, anyone who didn’t win gets their bid deposit back. We send the lease to the winner. Once the winner receives the lease copies they have 10 business–this this is something to plan ahead for if you are a provisional winner because this is a 10 business day time period in which you need to file your financial assurance, which often means a surety bond, you pay the balance of what you bid in the auction. We say “the balance” because remember your bid deposit is credited against your winning bid, and sign the lease copies. When we, government, receive those copies back usually Jim will execute the lease on behalf of the government, and we have a lease! That is the process from basically here until the lease sale happens I can take questions now or in the question portion afterwards.