i see your point. I got in for Jewell. I was expecting a rerate once the peak production number was reached. Its annoying, that it has not happened. Imo the EV does not represent FME, but not altogether unexpected given the options overhang and additional capital injection to continue the HBP and development work.
CPS is the only SH who has made a killing thus far - in return for their servicing the company. I suspect, like us, they're also in it for a big pay day when it comes. The only good thing about their position on the register is that (assuming our interests are aligned) they will likely only sell for top dollar.
Ann: Flames Well Operations Update, page-87
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