follow up volume, page-83

Hi Dargie,
The Standard Bank facility has a three year term. Whether that is from the date of signing or from the first draw down is not clear. They are, however, expecting to pay back within 12 to 18 months according to the Feb14 interview. This is a much better facility than the convertible notes used on the initial development, however that was probably all that was on offer at the time.

As for funds on hand post GalocII, I am expecting more in the order of 23 to 24m, (ok - this is subject to an on-budget completion of Galoc but by the same token I have given them no benefit from GalocII revenues). I've convinced myself if no one else...

That same Feb14 interview says they are "fully funded for Galoc Phase II development, other predevelopment activity and two exploration wells planned in the next year". Maybe Galoc North is still in the offing if the development proceeds smoothly. The Feb14 interview is worth re-reading. There was more in there than first met the eye.

It is a fair question in regards to PNOC. I have got nothing on them at this stage but I'll be taking a look...