re: Ann: Letter to Class B unlisted option ho... very impressive with sp over last few weeks - don't see announcement re seismic until second half sept at earliest - as per previously reported.
NOT impressed with class b option holders - hartleys have always stated greater of either $10m or 50% of two wells BUT NOW it has been 'clarified' that these 250 million options can be exercised for virtually free if it is 50% of work commitment costs (aka code for one well not two wells) - one well is a hell of a lot easier and gives away a lot of perceived ordinary share holder value imho
interesting weeks ahead re seismic announcement - all now quiet/dead re 5 billion creole target and now focus on 1 billion barrel sized target(s). SP will bounce back from today as long as global markets do not tank - all eyes on the US re job data tonight.
Ann: Letter to Class B unlisted option holders , page-2
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