phoenix well, page-5

Thanks for the info sandstone. Risk vs reward is massive here. But I think its worth it.Potentially a company maker with these blocks.
SP is drifting since share placement announcment with investors impatient & not happy with the dilution.In my opinion the dilution is quiet frustrating but I also can see why Carnarvon have done this.Timing is perfect for raising funds. IPO's left right & centre & $12 mil is a decent amount to raise. They want to retain the 20% which I think is a positive sign. Apache repaying all previous costs & then sinking $50 mil in for a 40% stake & JX Nippon with 20% is a show confidence.That alone puts this block alone basically worth the current market cap of the whole company ? Carnarvon is severely undervalued at current SP.