Not sure if you were aware but SPP is now officially in recievership, couple of announcements made this afternoon at around 3 pm. Whether it remains so is not clear as of yet.
Unfortunately the reality now is that they may not trade again as the existing entity but like you say the size of the resource won't be forgetton by all so who knows. The real question is who will end up with control of the company and where does this leave shareholders?
It appears to me that the american investor is looking to pick up the whole package at a discount. My opinion only and quite likely to differ from the eventual outcome.
It seems that SPP may have run out of believers with cash to invest/risk. Will be interesting to see how it pans out and I sincerely hope that shareholders end up with a piece of the action.
SPP
southern pacific petroleum nl
