Ann: Annual Report to shareholders, page-135

Hi Davy
If the final investment decision had to be taken now I doubt it would have been passed. Put on hold would be the most likely scenario until conditions improve, we would not be on the hook to any of the suppliers in the comfort zone and riding out this storm with the SP insulated.
But that’s not the case unfortunately we got caught speeding, kicked in the guts by the virus and the POO downturn bad luck and bad timing.So where do we go from here?
No finance obligations at least has the advantage of allowing time to regroup and reconsider all available options. An asset sell down or buy out, a TO or hopefully being able to renegotiate more favourable terms.
We need some luck and perhaps the double - wammy at this time was fortunate as if it had happed at first oil when loaded with debt we would have been wiped out.
Cannot help thinking that we are now on the mend recently tracking upwards, perhaps being assisted by our big brothers.
If this is the case the shorters will soon start to feel the heat dangerous but interesting times ahead.
AIMHO