Siogeo10 Feb 2015 12:08
The last paragraph of yesterdays RNS has to be worth a punt on it's own:
The BoD are warning og the consequences of not getting the re-financing, but also using phrases like "reasonable prospect" and "could result". Well, reasonable prosepect is better than 50/50 for me.
The Directors of Max Petroleum currently believe that there is a reasonable prospect that ongoing discussions could result in a sufficient refinancing of the Company and, on that basis, have not put the Company into administration. However, there is only a short period remaining to achieve such a refinancing and if current efforts are unsuccessful then the consequences will be negative for all stakeholders in the Company.