I wouldn't rule out a TSX listing but not so much from the...

I wouldn't rule out a TSX listing but not so much from the perspective of fund raising but so that the securities issued last year through West Wind can be more easily traded by Nth American investors.

Debt is the key here in my opinion. Current markets will take it a slightly difficult issue to get away in the money markets however if appropriate RAROC levels can be achieved by the banks with this deal then I would suggest that the issue will okay.

What this company does need to do, though, is get an established MD in place. Financiers like to know that a ship has a captain - in fact I would go so far as to suggest that no debt will be secured without a MD appointment