Cairn and Far look to cash in on $4bn project off West Africa, page-57

Yes, its unfortunate it has taken this long for them to come to this conclusion.

They even sent a director overseas to try to get finance (refer to the Dec quarterly). But all they had to do, was do a video conference call to get their answer, instead of spending $250k to find out.

And anyone with a background in finance or had ever operated their own business, knew it was almost impossible at the best of time to get project finance and mezzanine finance at the same time, and leveraging more than 100% of the MC of an oil and gas exploration company with no revenue.

I have a sister who is a Director of one of the major banks and when I showed her what was being proposed: she had said "No way".

In any case, after nearly 6 months of uncertainties, it looks like they finally got it right.

Congrats for Cujo, GO and Ya for picking it.

And congrats to current holders.

Good luck.