If the sale proceeds, well of course there will be tax if there...

If the sale proceeds, well of course there will be tax if there are no losses to offset them against. Tax is a fact of life.

If they get cashed up, they should simply repay the notes and get rid of them. The fannying about with it all is too counter productive. They should simply sit on their cash and see what happens in the oil market, either in Aust or the USA.

There is a huge amount of corporate debt in the US oil sector leftover from the shale boom. A lot of this will drag the various companies under and/or force a fire sale of their assets. Prob 2016 will be a golden period for some counter cyclical investing in the oil sector.

Good idea to start a string without the pointless bickering. Breath of fresh air.