what happened to georgia?, page-9

Smart,
I honestly feel that you are spot on in that they have "negotiated a larger finance facility with Duchess and are drawing down a larger amount of funds than we actually think".
My reasoning for that is that they drew the full amount as quickly as was possible i.e. All 4 drawdowns consecutively without any respite. If you want continuous drilling in Georgia, take up as much as possible re T&T, have adequate funds so there is no shortfall re: Puntland( otherwise there is a huge penalty to pay), leftfield project ( Colombia). Then perhaps you will need more than 20m GBP. Perhaps increase your stake in Texas.
Remember the facility was for 3yrs and we've taken it all in less than 3 months. So I for one would not be surprised to find that another finance facility has been agreed.
Who knows we might be taking over strait and they might be offloading the shares they already hold and crystallize their gains before they get issued some more shares for the takeover.