Ann: Change in substantial holding from IFL, page-7

Hi Binbin - my understanding is the company can pay down the debt with the cash at bank (ie. they banked the borrowings but never really spent it). What is still left for the directors are the properties so i feel they could push for AOK to sell off properties to pay back the pref shares. Why wait for oil prices to recover when they can demand their 15cent shares back anytime?

Snake river has about $20m in PDP reserves I think