no change in reporting style, page-19

Hi Valin,

I assume that they will either just pay interest on the loan as per your calcs they would have to draw on there debt facility to pay down any other debt in the quarter.

Remember though the US operations are just supposed to fund themselves not the whole company so any financial analysis at the moment should but the USA operation at arms length to the rest of the company.

IE

USA
Debt facility ($130 Million drawn) - debt facility is only to be used to fund US operations if required.
Credit from Oil sales
Debt from all US opex Costs and Capital expenditure.
USA should = $0 until production is increased

Aus
$120M Debt facility ($0 Drawn)
DEBT AUS opex and capital expenditure
= -$

So until there is an asset sale the Aus part will need to draw on the loan facility