The silence is deafening! Going off your dates @stumpytrunks it will get busy again next week. (21/2)
I have read and re-read the MEL and KBC announcements. KBC initially defaulted MEL for late payment of interest and then terminated due to MEL not gaining shareholder approval for the attaching options. MEL have remedied both items. While it may not be enough to keep the KBC loan on foot it is possibly enough to defer/delay/argue against repayment of the facility.
MEL will need to re-finance away from KBC at some point. The more time MEL has to work on that the better it is for them.
Meanwhile in the background Odin-1 should still be churning out a daily operating profit of $1500. I don't hold enough to chat to the board. If anyone on the thread is though could you ask them how the reserves upgrade of Odin field is progressing?
MEL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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