afr - street talk

You've got to be kidding...

Oversubscribed by 38%?... why didn't they reduce the interest attached to the bonds if that was the case? any sane person would...

Help advance Linc's debt reduction? Add debt to remove debt... the debt removed was at a cheaper rate. The new debt is at 12%, you need to return 12% on the debt just to break even... On a net basis, the oil and gas fields aren't even profitable yet, it's going to be a tough ask to get that profitable enough to pay off both the bondholders and the equityholders.