equity raising or not, page-53

Danhold

LNC management agrees with you that long term funding of non-capital expenditure by growing debt is unsustainable , which is why LNC is only accessing debt this FY because cashflow is fully funded in 2013 from the Oil and Gas division as per the quarterly report and earlier announcements on oil production increases. Maybe you missed them?

No capital raising is required at this time for fully funded operations this FY, and next FY cashflow will be available to meet cash needs from oil and gas revenue. With the current depressed SP and fearful broader market it would be a bad move to consider CR unless it was actually required.