Old Direction Fanciful Finance, page-18

Denny,

I'm not understanding your points here. The references I heard to plan B was when Cottee was asked that if the SOA failed, what was the plan B for CTP, given that CTP was being described then as in such a terrible position.

And the response was that the board did not have a plan B - in other words, they had no idea of what to do if the SOA failed, and by their own words they had tried all the finance options they could and found nothing with terms they could agree to.

This is where ND have come in saying that they have an option for financing. Many don't believe it, that's their right. ND of course can't give away details of the source of that funding, so there is no way to check if it's viable. However, they have now provided some of that information to the current board, and have facilitated a meeting with their potential source of funding and current management. (If I understand the emails about it correctly).

Cottee, however, seems to have already moved onto his own plan B, which has materialised now that the SOA has gone (for now at least). Suddenly grey skies have cleared up, and the terrible rains that were going to wash away CTP have turned into a pleasant summer storm, with a nice rainbow having lead management to a pot of gold.

I've not seen or heard any material from ND saying that they want to move away from the gas plan. Please supply such if you have seen it!

-- Karll