gus simspon in indonesia, page-19

MMM your last comment was hilarious, you never know hahaha
But I’m sure if Gus, other directors or substantial share holders sold any of their shares, we would've had an ASX announcement confirming change in holding!

MMM, You commented "John mentioned not so long ago that no drill rigs have been called to the South Sumatra Basin on Quests tenements-", IMO I wouldn't go by John's testimonial as fact LOL.
As previously mentioned in my past posts and by other posters, what Mr. Mochamad Thamrin and Mr. Saxon Palmer can both provide in relations to acquiring the drilling rig and materials, specifically at deals we could never even comprehend is the biggest question mark? so let’s wait and see what they can come up with, as they are both leaders in the Oil & Gas Industry in Indonesia and IMO we definitely can’t compare company to company, but IMO we can expect a great deal.

In relations to the 2 lots of selling at .006 from either 1 or 2 sellers, I’m confident it was a either a short term investor who has been waiting for an announcement whom was looking for a short term gain and didn’t have the patients due to the opportunity cost of making money elsewhere, or due to a shareholder personal circumstance requiring cash flow! Thus, IMO the selling off was not based on a potential CR, especially with such a large amount sold in 2 hits.
Lets say hypothetically if a CR announcement is released soon, don’t you think there would be an obvious Insider Trader Enquiry due to the significant amount of shares sold by either 1 or 2 shareholders today? I’m sure that a shareholder’s speculation of a CR would not be accepted as a plausible explanation during an enquiry.

But let’s talk about recent significant updates:
1/ As mentioned in my earlier post a close source of mine has confirmed that Gus Simpson has arrived in Indonesia. IMO he is obviously here to finalise all of QPN outstanding matters, specifically finalising drilling dates.

2/ We should also note Gus Simpson has recently raised a total of $12.5M for PEN. But what we need to really look at is how the funds were raised, as per PEN 4th of July Announcement explains:

“The Company advises that at the expiry date of the PENOA Options 49,049,150 PENOA Options expired unexercised (“Shortfall”).Pursuant to Peninsula’s underwriting agreement with Pala Investment Holdings Limited (“Pala”) announced on 1 June 2012, Pala will subscribe for 43,000,000 shares in Peninsula, being that number of shares required to increase Pala’s shareholding to 19.90%.

The balance of the Shortfall, being 6,049,150 will be issued to clients of Hartleys Limited and Canaccord BGF Limited (Joint Underwriters) pursuant to the underwriting agreement announced on 13 June 2012.

In combination, the exercise of PENOA options by option holders and the underwriting agreements with Pala and the Joint Underwriters ensure the Company will receive proceeds of $11.1 million, bringing the total funds raised by the exercise of the PENOA option class to $12.5
million.

Proceeds raised will be applied to development and construction of the Lance Projects,
Wyoming USA. “

As previously mentioned in my previous posts over and over again, IMO I am very confident that a CR will not be offered to general shareholders, but will be offered to institutions and/or significant existing shareholders which is backed by the above PEN announcement. So if this approach is adopted by QPN, does anyone expect a dilution in the SP? IMO a definite NO.

Till will surely tell, and I look forward to discussing these matters after the fact!

Tazman