"The transaction is in line with Linc Energy’s strategy of...

"The transaction is in line with Linc Energy’s strategy of managing its balance sheet and cash flow through a combination of greater cost efficiencies, potential asset sales and delaying significant capital investments in the current low commodity price environment."
Mr Craig Ricato, Linc Energy’s Managing Director & CEO commented, “This transaction boosts Group liquidity to ensure that, in conjunction with other initiatives,the Company continues to maintain healthy cash balances at a time when other industry players are struggling due to low commodity prices. Relative to Linc Energy’s cost of debt, the transaction is considered to be an efficient means to manage its cash flow.”

Is this Craig Ricato serious factoring the debt above 10% swapping $64 m in October FOR $60M now equates to 4 M interest for 6 months!! This is because LNC is so desperate for cash as there is nothing left to sell or ability to borrow left. He goes on to say 'the Company continues to maintain healthy cash balances at a time when other industry players are struggling due to low commodity prices" Oh Really whats your defination of healthy Craig?

$600 M debt an interest bill of $60 M per year of which 30 M is due at the end of April, How can these guys still want to mislead shareholders? Is 1.1 B worth of poor and failed investments not enough?