Hi all, I have been reading the financial accounts and I am...

Hi all,

I have been reading the financial accounts and I am starting to realise why sny are experiencing problems in getting the money off the Nigerian investors.

While I thought things were pretty bad with how much sunbird have racked up In debt I didn't realise things were actually as bad as they actually are. Looking over the balance sheet it looks like we have a huge amount of debt. Almost 5 million dollars, through payables the whiteswan loan and another facility which has never been announced to the market - I'm surprised nothing has ever been said about this new facilty! Surely this should of have been announced. Management have been very selective about what they choose to say.

The fact is with 5m in debt and 5m coming in from the Nigerians there is nothing left again and we are still needing to raise more money. I think the Nigerians have worked this out and before paying the balance will want to renegotiate the pricing from .27c to something much more reflective of the current situation. In my opinion they hold all the cards here. I just hope they go easy on us....

thoughts anyone?

dyor.... TG