change of board, page-73

and this

"C2E Capital will examine investments in companies that own or operate any of the following, and in some cases may invest directly in the projects:

upstream oil and gas assets - exploration, appraisal, development and production
upstream oil and gas services, technology and equipment
midstream to downstream infrastructure associated with or involved in upstream oil and gas assets
other energy assets will provide commensurate returns


C2E Capital may make funds available for a wide range of purposes including:

"seed" capital
development and growth capital
funding for specific projects
funding for management buy-outs, including public to private transactions


C2E will generally invest in unlisted companies, but may take a significant minority position in a listed company where the opportunity exists to add significant value. "


... so i am guessing that they are currently running their ruler over it ... there is every chance they would be well advanced on that considering that the data room has been open for such a long time (also setting up the EH appointment would not have been done in one phonecall - u wud have to expect that negotiation has gone on for a while and she woud have the info on the assets she needed to make a descision)

my guess is that they want a stake ... and then do the financing/jv/eqity raise side of the business... so i think jeffo's right on why the finance guy is gone

.. so wudn't be too suprised if the current jv negotiators in london and australia also get pushed aside at some point( how messy that would be i dont know - wud depend on the contracts when they were appointed)

I am not sure this translate in a big delay for the jv/workplan


just a thot