announcement out - financial restructure, page-13

This might be a possible scenario.

Bank takes possession of the Clear Creek for non payment.

Sea Port Agree to pay x Million for an unencumbered Clear Creek.

Old MAE is placed into receivership.
Outstanding debtors get the stuff all that is left.

Seaport purchase ASX carcase as part of administration.

Shareholders receive priority access to new MAE shares.
Possibly some sort of share conversion from Old MAE to new MAE to keep the interested in the float.

New MAE is refloated and raises lets say $10M and pays $5M back to Seaport who exit, and company has $5M in cash to fix wells.

Conversion of old MAE shares to new MAE shares will probably be ugly. Think 3000 to 1