It is the specific information that a lot on here have been...

It is the specific information that a lot on here have been asking/speculating about. How will we repay the ERM debt.


First (preferred) option: Reserve based lending, most likely RGN results are needed before this can/will be finalised.

Second option (if RGN is a dud after flow testing): Probably sale of gas plant.

Third option: Capital raising as a final resort but may struggle to get underwriting.

Fourth option: If all else fails, administration.


Ultimately I think we are best to cross our fingers and toes and hope that RGN flow test is good. This was why I questioned, and was vehemently opposed to, the ERM transaction! It was not essential and was not in EGO shareholders best interest, also why I question the lack of independence of this board, in particular the chairman, who was supposed to step down as chairman about 18 or so months ago.

Even Wabbit admits that the ERM debt is holding us back.