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35.5¢ warrego energy limited

Ann: Non-Renounceable Entitlement Offer Document, page-88

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WoodySpoon

9,757 Posts.

2950

02/03/18

11:19

Post #: 31475824
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Originally posted by Fudley61 ↑

This is why I feel strong about the Company waving that extra 8% equity in the air, and getting to bottom of well 2 without issuing any more shares.

Most of the current owners would have purchased shares before we purchased this extra equity, so presumably we thought it was a value buy at 50%.

Go back to 50%, get to bottom of well 2, without any further share creation

And before anyone starts telling me,
“ it isnt going to happen”
Neither is,
1) Board quits and we replace them
2) we sack Board and replace them
3) DC quits, or we sack him,
4) DC works for nothing
5) DC and/ or Board members pay out of their own pocket for well completion
6) any of the other ideas floated here.

I just see this as best case win/win

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Fudley, obviously that would be a good idea. But nobody is interested or it would have happened.
Who do you reckon would be putting in money now? The prospectus was NOT optimistic the hole could even be salvaged.

PRL Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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