Ann: Update on BBP Loan Restructuring , page-2

So in summary:

Documentation for BBPF Facility underway, but waiting on interim results from the arbitration process relating to the North West Shelf gas contract.

BBIPL loan has an in principle non binding agreement, but compisition of BBIPL lending group changed considerably over the last month, so process taking a little longer than expected.

AGM will go ahead, but an EGM may be needed in early 2010 unless the interim NWS determination and BBIPL consent received before 4th of November.

So it looks like the BBPF facility will be fine providing the results of the NWS arbitration are acceptable and that the BBIPL facility has been agreed upon but needs approval.

Good news I would have thought. Comments anyone?