pw, personally i think it is just compliance (i.e. they have to...

pw, personally i think it is just compliance (i.e. they have to announce when it has reached TD) - they used it as an opportunity to say that results for Nemo/Kaiser were near.

no mention of the debt funding though. says to me one of 3 things - no change (therefore no need to mention it), it is not going as well as they would like, or it is very, very close hence they can't say anything.

I actually think it is the third option. as soon as that agreement is signed the level of risk associated with the company decreases (funny that leveraging the company decreases risk, but in this case the risk is that drilling goes too quickly and they can't pay their share). hopefully not too far away!