Essentially, the Claimant submits that in 2001 he had the ability to build up third-party capital necessary for the exploration for hydrocarbons for the four areas (Rengan, Sargazon, Yalgyzkak and East Soupetau) for which he should have been granted licenses by the Respondent. Such capital would have been built up from different sources, such as government grants, loan facilities by oilrig operators and private equity funding (cf. Transcript, Day 2, p. 26–31). The exploration would have been successful and allowed him to procure further capital for the production, transportation and sale of the hydrocarbons.