Too early for Kurnia drilling news, and too big. Has to be related to the egm story.
It's a deal, and it's big. I also doubt it is related to any ASX oiler. My guess is someone in SE Asia with interesting assets, who would prefer a wider portfolio in a stock exchange listed vehicle.
If so the price the new shares are issued at on paper will not be that relevant, provided cheap shares correspond with a cheap sale price. So far our team has been very astute, therefore any bad sp reaction might be a buying opportunity. Also ready to sell down if I don't like it.
Regardless, Kurnia now set to be a minor sideshow in what appears likely to be a much more diverse company.
EL
halted nc, page-10
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