Ann: Odin-2 Appraisal Well Successful, page-39

Mitch I think you have forgot to factor in O3 connection costs into your estimates above also they will need further working capital as they run into more negative cashflow territory and will need additional funds to try and remediate vali 2/3 and Odin1.

While the quantum of debt required would be similar to KBC loan it’s worth noting they and GC1 got involved when the MC was around $20m and when they expected four wells to be producing ….. yet little over 12 months later MC is around 1/3 we have production from 2 wells and O1 appears to be declining more than expected …..

think the prospect of further debt from anyone aside from GC1 (may have to throw more money to save the existing lending) is looking more and more remote.