Ifino, You need to do a bit more research, the most the note...

Ifino,

You need to do a bit more research, the most the note terms can be changed to is 4:1, anything else will require ordinary shareholder approval first of all.

Macquarie are not going to let them draw down that facility, 12 non commercial wells out of 13 drilled is not going to cut mustard with them. Unless of course they want to be the major creditor and force it into bankruptcy to get the assets on the cheap! but a bit late doing that given the end of March issue.

AZZEF down as low as $0.15 a share today, that's about A$0.22

No income only outgoings.

Still if they manage to sell the assets they might be able to buy Breitburn with the cash !!

PS there tax bill will be down, they have a A$92M writedown of the Breitburn holding they can use.

What a mess

LOTM