"Sorry, I'll reserve my final judgement but it shaping up as a BIG FAIL"
I understand what you're saying Rosco. But I'm talking from a legal perspective as you brought up minutes of meetings possibly saving them. And from that point all the 'main issues' would get a PASS mark by any court in Australia. You can't prove negligence.
If "we" alledge that Novus is a bad deal, all GGP needs to prove (via the minutes?) is that although it is bad, it was an arms length deal and the best available. I think they can easily prove that.
On actual results, yes they are disappointing. But can a judge actually lay fault at directors? Don't companies have dusters? blowouts? water? etc? Atleast we had insurance that covered our blowout.
And we seem to be learning in PB. The wells drilled aren't done with. We just need funding to frac and do horizontals. So I'm sure a judge would not be on shareholders side. Though Acreage has mentioned an odur from the wells that I agree with. Why are they all on hold when fraccing could earn revenue and we have(at times) raised money for exactly that.
The due diligence is probably our only angle. And it relies on who is to blame? AKW? GGP? or the promoter(Frank)? And what was/wasn't known and what was/wasn't announced.
We will see what happens. But I hate seeing shareholders want to go down that path. Just costs us money that we dont have.
GGP Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
