Whilst the 12M is customer receipts for the quarter is a great improvment we really need to find out exactly what is happening with the Macquarie Bank Loan Facility.
According to this latest quarterly we have drawn 58.5M of the 200M available - the same as the last quarterly ended December 2012.
Yet in the annual report issued on March 28 it states that the Macquarie Bank Loan Facility has been 'paid down' and is only drawn to around 45M.
Can someone explain WTF is going on with this?
With the price of NG in the US up over 25% in the last few months and oil overaging over $US90 these guys should be raking it in.
Ann: Quarterly Activity and Cash Flow Reports , page-2
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