You have misread it TM, and probably because you have overlooked the 1 for 5 consolidation in March.
Multiply 21m x 5 = 105m. That's one way of checking what's happened since the date of his previous Notice 1/11/16 with 87m. Despite the removal of the shares owned by SBD Drilling p/l, he is up from 1/11/16:
pre-consol = 14m
post consol = 2.8m
Ann: Change in substantial holding, page-6
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