Re: LGO Stream Log - About the placing... The first...

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Re: LGO Stream Log
11:48 16/01/2015
pcwong
0 replies 0 0

About the placing... The first question that comes to mind is why the paltry sum and not more. I tend to agree with several posters here that it is to secure the senior debt and likely LGO needs to pass a 'stress test' set by the lending bank in view of the current oil price. If so, what makes this senior debt a must have? I can only think of only two. One, that a major acquisition is on the cards hence the needs for large funding or two, LGO needs the funds to start a drilling campaign in Cedros which has been mentioned many times and again in yesterday's RNS. Just my two cents worth.

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