Beachman "I hear what you say about convertible notes - I don't like them either, but its not like the company is giving them away. For every share the company issues through conversion, they get cold card cash. The real issue is what the company does with that cash. If they p*ss it up against the wall, then there is a problem."
Mate they got this money ages ago and have p!ssed it up against the wall last year. Its now coming to haunt the SHers. The notes and CR was mean't for the 10 well drilling program that was due to be completed June/July 2012. Gee that was hard to stomach.
Nice one Steve Gravy and Frunk Petrolzzzelli.
GGP Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
