Ann: Extension of voluntary extension, page-19

for anyone who is a LT holder... none of this should be a surprise...

the wait for the oil exploration recovery has cost SDA dearly, any sale of assets will be at sub par prices... 650m of debt in a breached debt contract - highly dilutive CR is their only real saviour here. They need to get debt back under 200m AND ensure that any assets sold do not reduce their ability to service their existing clients and planned contracts (such as the US govt one shown on their website last year) - with only ~$200 of real assets - cannot see what can be sold.

I did suggest earlier that they accelerate their intangible asset write offs now while the bad news is already there... I agree with actions that the board is taking there.

They won't go bankrupt - but its going to be a long road from here...

Dick Smith was used as a bad investment example earlier.... this is probably a closer comparision to RFG - they still exist, but same story - CEO, CFO etc all gone and another in their place to try and clean up the mess.