Ann: Austrian Drilling Update, page-10

Just seen, you mean Blue Ocean on their Site, Sorry.

I like their site visit experience, but 1,2 things.
Starting arround ~2:02:

Can you say what is it with Their optional Share issue?
Class "A" is fully OK. But Class "B": Condition(s) is SS with IRR >20%, and culmulative EBITDA of ~50Mio A$.

OK, no issue with First. Should be "pretty probably fulfilled", iMo.
But do you know what culmulative in that context means??
More than in One year?
For LOM 50Mio to my impression is far, far to low.
But doesn't culmulative mean more than 1 year??

I don't get these point, Srry.


Their Valuation is just indicative stuff, I wouldn't build to much on.