a placing or a bank loan is what it says to me - happy to be corrected but here is an extract:
The Directors, based on their discussion with the Company's brokers, believe
that there have been sufficient interests expressed by prospective investors in
the Company's interest in the Colombian project, which they consider to be of
substantial value because of its potential for significant commercial oil
reserves. This, in their view, should result in a successful placing of shares
or the arrangement of the necessary bank loan within the required time frame.
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