They changed the story. "Discussions have been held with Australian and international banks in relation to project finance for the West Seahorse project. Debt markets for project financing are proving challenging and as a result more time will be required for Joint Venture (JV) project financing. TDO has also held related discussions with potential providers of equity finance and mezzanine debt for the project. In parallel, Hibiscus on the behalf of JV has been negotiating the sale and lease-back arrangements for the Britannia MOPU. To date, no definitive agreements have been executed. As a result of the slower than anticipated progress on these issues, TDO now expects that FID will be delayed until funding has been secured. TDO will maintain regular updates on progress." I'm underwhelmed so won't be rushing to buy back in.
TDO Price at posting:
9.5¢ Sentiment: None Disclosure: Not Held
