How to defeat a Scheme Of Arrangement, page-103

Hi mir911

I have finally had enough time to look at this, and I believe your interpretation is quite wrong.

If you check the past 4 quarterlies for both TPD and STX, you will see they both have exactly the same accounting treatment and they show that TPD paid cumulative amounts of $12.808M and STX paid $17.307M for oil and gas assets shown at item 2.1 (f). Those amounts are virtually 45% and 55% respectively and total $30.115M which is way over the Walyering budget cost of $23M advised by Strike in their annoucement on 14 March.

IMHO, Strike has a lot of explaining to do about their poor execution of the Walyering project. I would not want to be in their shoes fronting up to Macquarie and asking for More.