Ann: Daydream-2 Operations Concluded, page-63

Well....that bites.

We will of course be inundated today with the usual posters reveling in "told you so" etc etc. And today- they win.

I always bang on about it taking a lot longer than you want/expect/hope for but I must admit, the virtue of patience can sure be tested at times.

Hard to look at the positives, when of course there are some good outcomes, when a 1mm stabilised rate is embedded in the announcement.
Neil's round of video interviews I'd assume he'd be doing might give some colour around the actual achievements and successes of DD2 but all the market wanted to see was at least 2.5mm unified stabilised rate.....with the expectation (as markets tend to do) of a higher rate achieved.

Overreaction sell off?- perhaps a bit- but can't blame anyone bailing.

I'm thinking about topping up but will wait and see and digest over the next few days.

We are in an exposed position though- the reality is partnership discussions will favour a partner- not us.
IF we walk away from partnership- a potential scenario that must be contemplated- then raising for DD3 will be absolutely brutal really.