Ann: Financing Update, page-42

very much getting a sense the funding providers as usual have clients over a barrel - nothing new here and has deteriorated over the last 5 or so years when interest rates are at their lowest and so funding should be at its cheapest, but banks using that cheap money for other investments that are liquid and make money in short term, but i must admit the CNE non info is odd unless they are smack bang in the middle of selling a % as they said they wanted too, and the capital outlay got a whole lot bigger with buying the FPSO since when they first started signals to sell a %.

Could any ligitimate buyer take on a % of this project with such an array of uncertainty - self fulfilling - if one lot has no funding , then i am not interested in buying equity until he has and i dont know what equity distribution there is until PE sorted!!, and so on along the conga line of, if, buts and maybe's - it really is starting to look like a mess. didnt buy into SPP to average down - will accpet loss and move on if FAR manage to really stuff this up - small fish in big pond syndrome