60% of the register is still held by the top 20 so any changes will need their majority support with retail investors not making much of an impact at less than 40%. This must explain the illiquidity and how easily the share price can be manipulated around. Even after all these setbacks these sophisticated types are sitting tight from what I can see and most of them must be deep in the red. Not that they have much choice with limited options to sell out unless another large buyer comes along.
As others have mentioned the assets in Cambay are excellent with a ready market nearby to sell the gas if they can just get more of it out of the ground. Maybe this is another reason the top 20 are sticking around that the market in all this chaos is undervaluing the underlying assets and looking too short term. If we trust the report OEX are fully funded for the next program so all what is lacking is communication from them on a timeline of events. Maybe the reluctance to provide this guidence is because things are behind schedule and they want to get things right knowing failure this time could mean game over for the current management.
