Poynton would have the best information about:
- the prospect of technical success, in the near term.
- the capacity to finance those horizontals.
- any farmin negotiations that are ongoing with a major (pending technical success)
- the merits of the Orica claim. (Here, it is also worth noting the board my have decided to bite the bullet because they judge, selling the first 250PJ to Orica at well below market rates, will impede farmin/financing.)
With all this information he has a). put his own reputation on the line by becoming the Chairman, and b). topped up for a second time.
To think the company is not going to follow through on its strategy, and to then top-up would be completely irrational. Do people think Poynton is irrational?
I suppose people have to weigh all this against the uninformed doom-saying going on in recent weeks on this forum.
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