Ann: Financing Update, page-129

From what i understand this is not a demand issue for the senior debt, its a timing issue (Christmas does not help! everybody away). The naysayers will argue we have had all year, but the reality is we have had only a very short time frame 1) Huge Capex uplift very recent 2) the operator got final approval only last week. This is critical for a junior in the development process as the senior debt supporting the junior does not want to see any delay in the project. As a result there is very strong syndicate demand to cover the $300m. But this all takes time and is a process that takes longer than raising equity....The company was too optimistic in the process of finalizing senior debt, the timing of how long it takes. we will get done just takes time.