Manuel and Tone, I suspect the mentioned revolving facillity is for development of any possible significant discoveries. I dont think this team would farm out. Why share an upside with somebody else unless the company can not afford the development on its own.
Also with the number of options granted to shareholders and staff it is not in their interest to dilute their own options and holdings.
Quote from Tone post 'During the interim period ended 30 September 2006, Max Petroleum granted 5,612,500 options to various officers and employees of the Group with exercise prices ranging from 85.25p to #4.50 per share.
It is company policy that all has options. Everybody from top to bottom in MXP has options. Bearing in mind that the company mainly requit ex colleges from previous companies as new officers and staff these current and new staff must all believe in the opside. Otherwise they would simply not join.
This company is thinking big. Mention any other junior Kazakh oil company that is going to drill this many wells in 2007! 2007 is bound to be an interesting year for the shareholders.
Merry Christmas to all
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