That's a blow. I find it interesting as to how and when did the 35% leave the pre emotive window? This is a major oversight on behalf of the initial agreement framers and on behalf of the Houston team that Far engaged.
It will be very interesting to now see where the SP bottoms and how long now before it consolidates.
The cornerstone investors would not have stumped up for their equity on the basis of PE so that would leave traders of both stripes....long and short who are creating all this latest market activity. Hopefully they will wash through quickly and we can all get down to finding the farm in partner for drilling Gambia and finalize financing for SNE..... distraction free.
Disappointing result for any shareholders who were looking for a bump in SP so they could make an exit. Hopefully pre drill The Gambia will give them a decent look in.
Cairns sale should now get some clear air going forward and just maybe that might flow into FAR. In any event if there is a predator out there eyeing us, you would expect them to move fairly quickly with this very sick SP.
Not happy but still holding...to get further to the bottom of the drawer I'll have get the jackhammer out and break through the concrete.
CV
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