recommended takeover of ambassador by drillsea, page-15

Sorry - forgot one other point - NSE haven't got the necessary cash at this stage as far as I am aware.

Maybe for arguments sake you could discount the cashfows of the farm in by 12% per annum (I thought 15% but being conservative), and knock off another 25% to allow for non completion due to future energy prices or other events.

$42.5m becomes much smaller. Maybe around $25m in reality.

anyway - feel welcome to correct me on this - haven't got a firm handle on the history.