$5 million and $1.5 million over 3 years is nothing in the scheme of things, when you consider they will be earning IMO over $10 million/year over 40 years and in 2024 they will be drilling other oil and gas prospects which could possibly double the net cashflow.
We will look back in a few years and I am sure we will think it was a no brainer and a great deal to get that additional $5 million at 10% with the attaching options, it provides financial security in these uncertain financial times.
Ann: $5m debt facility secured to deliver Odin gas to market, page-54
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