WPL by providing cash facility that HDR desperately needs in exchange for more equity in the fields can effectively creep and have control of offshore area without going on market and buying up. WPL has a seat at the table no matter what and can get more by financing to tie HDR up even more. I now understand the understatemnets by WPL while Agip was on offer to ensure deal went ahead.
Comment on HDR raising funds didn't mention any form of public issue which could focus market on real share value instead it's back to the same old same old to be bent over?? Should do a pre-emptive deal with WPL to fund next drill and Ching for a % of field and take out constant funding speculation.
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