I dunno. One of the main thing that has disgusted holders is the large gap between the share price at the time of the announcement and the CR price. They could have either kept the price down to minimise the gap between the two or raised the CR price to again minimise the two.
Another company (PAA) just did the same thing. Share price was 7.7c when they announced a five for two new shares at 2.5 c. The price has dropped down to 3.2c.
The main difference between the two is that PAA are using the money to fund cancer trials. E2E have a piece of land and that's it.
I would have thought announcing a JV or a significant find from the drilling would promote enthusiasm but no.
All we have is sweet FA (and I don't mean fundamental analysis!)
Company Changing Announcement, page-73
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