media watch, page-79

pilatus, you wrote:

+ 20m cash from China asset sale
yes..but this offsets the loan facility draw down of $18m

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ehh no. The 18m cash on hand offsets the loan facility drawn down. That nets out, plus 20m from the china transaction.





+ farm-out to fund shale development
will be the driver ..although they have been looking for quite some time.
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Yeah, they take time. JV's aren't sitting on the shelf at Sainsburys.

I don't get the negativity.

20m cash to be banked soon.
JV in the works to fund company making, globally significant shale assets.