A ton of debt? At this point in time, OXX are debt free and have...

A ton of debt? At this point in time, OXX are debt free and have $8.5m cash at June 30.
There are also loans to groups such as PKO, $1.1m to be repaid in a few days time (pending PKO settlement), six seismic packages in NW Aus and NZ fully paid for and processed that are being offered for JV with back cost recovery, plus large share holdings in several listed companies (OBL, PKO, CUE). Its true that OXX via JV have approval for limited recourse project funding for Ophir but construction not started yet. You may be right about the FMG option, they are a big gas user (via power gen contracts) and Forrest is all about bringing down their cost of production. This will sort out over the next 5 weeks, Albers has run rings around the others so far, I expect it will continue. Watch for the PKO Cadlao settlement tomorrow, I suspect that will start a sequence of events running.