Ann: Director Appointment/Resignation-SWE.AX, page-27

DMR is in the same boat as u all, with 20M+ shares he'd be wanting some sort of return? Management would have to be truly incompetent imo if they ended up with nothing when they have a Farm out worth a few million and 12B must have some value? I hope they havent overplayed their hand pinning their hopes in selling out the company in its entirety that could have fallen thru. If u reread the announcements and take note of the tone of the announcements and everything DMR has said since about feb 16 i think you could be forgiven for thinking Shareholders could have been being groomed for a total sale,bleak picture being painted for the whole oil industry and how many projects had been cancelled and comments like"...other oil companys ...come and talk to us...and comments like restructure...
It seems they must have thought they had one in the bag because they didnt even attempt to raise the relatively small amount of money they needed to get past Kito and test it which seems inexplicable because if Kito came in their problems were solved. U can only conclude Kito as about a 6/1 chance of success that they didnt want to risk going against the odds. Now they dont have much else and im guessing they're doing their best to get a time extension to have another crack at selling Kito (+farm out) along with 12B as one package.OEL have thrown a spanner in the works by taking legal action re Pangani. It would be tragic if SWE ends up with nothing and Kito comes in. I dont know what SWE has spent on 12B seismic etc but OEL may have been happy to settle for 1/2 of what SWE has ?