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19/06/15

17:10

Post #: 15498726
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Originally posted by Wazz101 ↑

I think it's the only remaining avenue for funds.

The $40m loan fell through, with no bank providing loans to O&G.

Equity capital / corporate loans have been tried.
The only thing stopping the derivative in the Lanstead fiasco going down in annals of corporate incompetence when dealing with derivatives along with Nick Leeson, Orange County & Enron is the small size of the deal, but in terms of complete management stupidity, it was epic.

we squeezed $2m as trade finance through hocking some PP&E.

The only things left are a scrip issue and selling some acreage.

Hopefully C'mon we're on the high side of your estimate, the funding will come through and that will enable some further drilling on Pathfinder and buy us quite a bit of time. That certainty will be good for the SP, as we are very much on a day by day existence at present.

As regards an ANN, the usual convention is to leave announcements until there has been something agreed. This is just the start of the process and generally isn't announced this early, otherwise there would be announcement confetti.

Don't know what else management could do, they don't have a lot of remaining cards.....

Wazz

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Market is talking,
EFS proven up with MILLIONS and MILLIONS and de-risked with large partner who know what they are doing with the drill...and now selling at the wrong time!

so money can be poured into a less certain acreage, and far less proven.

AKK Price at posting: 2.2¢ Sentiment: Sell Disclosure: Not Held
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Sale??, page-17

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