Ann: Atzam 4 - Project Update , page-6

Post from WorldStocks UK this morning....
Re: CTR RNS

Post Mon Jun 17, 2013 9:29 am
Had a look around over the weekend at some previous RNS's and it seems (to me) that on or before the spud of a second well CTR could have to pay out $US 3.74m, $1 to Santa "something"?? Petroleum as a final payment and $2.74 historical costs to ?? (don't know), failure to drill or pay and the CTR equity can be bought back for $1 <-- not sure if $US or $AU ;-)

With no further funds (other than those already) for operations included, this would appear to be far more than the amounts raised so far and also far more than can be raised by the issue of equity, without shareholder approval, almost 40/50% of Mcap required very quickly I'd imagine, a timeframe for the historical costs was mentioned but I couldn't locate the specific dates text but it was upon spud of well 2, <-- didn't mention Atzam?

Until CTR drill the 2nd well it appears they don't/won't own anything in LAR/Guat, so I'm wondering how they can raise so much so quickly?

Any ideas/thoughts welcome, I probably have the wrong end of the stick but it seems a lot to me!

regards
Rock