Ann: Exploration, Commercialisation and Corporate Update, page-2

Can anyone explain the conversation of the current notes to new Armour notes in a “convertible notes” for dummies style please?

What is the benefit of paying out to old notes and issuing new ones? Better rates (for us not the note holders? Who appear to be on the board!!!)

Besides that nothing really new in there expect Surat basin 10TJ will come from new wells as opposed to redevelopment of existing.

Bit cute saying EN 1 spud due for Q2 24! Maybe get a rig booking in place first before they start throwing around spud dates.