a reality check, page-12

Something else as well, if Wells Fargo had any issue at all with the banking facility they would ensure that AMU aggressively pay down the loan from cash flow rather than plowing close to 100% of cash flow back into new wells.

Additionally, at times when other companies have made purchases with debt (such as when ROC bought into their wells in China) they were often on bridging loans and later refinanced along with large equity raisings. Although AMU did raise some funds a couple of years ago when they made a couple of purchases my understanding is that the loans were term loans (ie. not bridging finance) from day one.

Clearly Wells Fargo has no issues with the debt facility.

MJS