approved, page-31

Cheers for the replies Gutfeeling & Cmon (btw - that is one of my fav books).

Ah great, the $80 million in bonds fills in the blank for me.

So basically, HZN is currently producing enough to cover costs and investment spending (of course, once Stanly and other avenues of production come online, this situation will be quite different).

So with the payment as you say Gut, HZN still have about $100 million in debt/bonds. Will HZN actually also get $130 million more in the future? (I thought the total deal was $204 million?)

Just trying to slowly get my head around HZN as a value proposition. I totally agree Cmon, PNG is probably one of the harder places to do business, but that is something HZN has always known.

When I have time, I might try to better understand the LNG project. HZN presentations are nice, but don't tell me why I should buy. Just lots of nice maps etc (don't get me wrong, I love maps).

Do holders see HZN as focusing on reducing their debt once the main projects they are focusing on come on stream? Or will they jump to another project? (I am trying to work out what HZN might do next in regards to capital spending etc)

Lastly, because HZN is so focused on PNG projects, do the investment community have any discount for this country risk?

Good luck to all holders.