Ann: Convertible Notes Redemption & Refinancing, page-7

We've been wanting out of these bloody capital note's for God knows how long. Armour have come up with a plan to do that by early May. Great I say. Yes we have to pay an extra 5% interest on top of the already high 15%, but only until settlement in May. $150k not the end of the world either in the scheme of things; works out to about 20 days of our 1TJ/d we are selling into the Wallumbilla market.
Small price to pay to rid ourselves of these confounded CN's. This also complies with Armour's Phase 4 plans for refinancing assets.
Myall Creek 5A well: we have been told several times that it will be completed by end of Q1, so by end of this month all going well. Remember we still have a commitment for another 2 wells, drilled and completed, by end of this June (ann 29/6/18) for the GAP.
Details are still sketchy on the new finance loan, but secured notes should have less interest rate attached.
Good on you Armour.