Read it again and weep JFT.
I QUOTE FROM THE PRESSER:
“Following last year’s restructuring and streamlining of the business, we have reduced guidance on our expected 2016 spend to a lower range of $155 million to $170 million, predominantly focused on the Papua LNG project. While we have $252 million in current liquidity at the end of 2015, we are in discussions with our lenders to increase and extend our credit facility. It is proposed to complete the increased and extended facility in the second quarter of 2016"
LIQUIDITY includes the $300 Credit Facility.
Ergo, they have already drawn down $48 million from the CF.
Look in the mirror when you read your post.
They need to increase the CF to $400 Million and extend it beyond end 2016.
Without the increase/extension, they cannot drill A-7.
I QUOTE FROM THE PRESSER:
“Following last year’s restructuring and streamlining of the business, we have reduced guidance on our expected 2016 spend to a lower range of $155 million to $170 million, predominantly focused on the Papua LNG project. While we have $252 million in current liquidity at the end of 2015, we are in discussions with our lenders to increase and extend our credit facility. It is proposed to complete the increased and extended facility in the second quarter of 2016"
LIQUIDITY includes the $300 Credit Facility.
Ergo, they have already drawn down $48 million from the CF.
Look in the mirror when you read your post.
They need to increase the CF to $400 Million and extend it beyond end 2016.
Without the increase/extension, they cannot drill A-7.
Drivel Maven with Personality