"At 31 December 2013, the Group had committed expenditure under...

"At 31 December 2013, the Group had committed expenditure under its exploration licences of $513,464 for the next 12 months, and has $3,789,474 Directors’ loans that fall due for repayment on 1 October 2015."

Can the directors Wind up the company and keep all the oil for themselves if the loan is not paid?

E.g if I don't pay my home loan the creditor (bank) takes my house and sells it. If ggx don't pay there loan the creditor (directors) take the Malolos Oil Field and can flog it off for millions and the shareholder gets nothing.

Is this a logical scenario? Could it happen?