Ann: Half Yearly Report and Accounts and Outlook , page-2

re: Ann: Half Yearly Report and Accounts and ... However, the Directors recognise that the ability of the Company to continue as a going concern and to pay its debts as and when they fall due is dependent on both future oil prices and the ability of the Company to secure additional funding. It is expected that financing for the Grieve Field feasibility work, any future exploration expenditure and some working capital will be secured via joint venturing and/or a combination of debt and equity financing. The Company recently entered into a debt facility which, although awaiting final documentation and is currently undrawn, could be used for part of this funding.