As expected, and argued on here, Otto did not meet the Tranche A2 requirements, and had to renegotiate the terms
Also explains why we couldn't afford the Talitha drill
The unfolding GC21 train wreck continues to take its toll, with very average reward if it ever gets sorted.
One question that should be easy for Otto to answer : Is the 1900boepd production requirement based on WI or NRI ?
We're flying close to the sun either way, and as Chand suggests, there's an undisclosed covenant lurking.
Ann: Credit Facility Amendment, page-3
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