Ann: Notice of Extraordinary General Meeting/Proxy Form, page-23

That's right. They're not just drawing an income and spinning the wheels. The way I see it, they've been caught out like many small oilers in a terrible market and have seen their own share holdings in the company get smashed. They seem to have bitten the bullet and are now open to investing in sectors that have the best chance of making themselves and shareholders some money. I'd much rather invest in mgmt that have skin in the game and are motivated to get the price up as high as possible. I wouldn't be surprised if this Otsana shell gets a project before EMG but both should feed off the other, so not too fussed the order.