Gary
This is not known, so just speculative, it may have nothing to do with Burgundy's current default. I would expect it to be in the terms of the capital raise if it were as it has material significance, to now have to fully fund the project
So a wait and see on that, but if so, I would not read it well. Because if the 25% owner, a specialist oil explorer bails out, the implied prognosis is not good.
Even if Burgundy's problems are purely financial, it also implies they have been unable to sell their 25% interest, for the $3.4m outstanding
Ann: Trading Halt, page-14
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