Ann: OEL: Winx-1 Drilling Update, page-327

Davy, after the last two Ann’s I’ve become more of a skeptic, from an strong supporter 2.5 years ago. Ive mentioned DAVE’s pearlers on many occasions and again I see the farm out advices as partly true. Here’s what I really think.
Yes - there is talks of farm outs but with anyone who will listen. Chinese would take it up but USA won’t allow to do so. The company’s name was only ever to appeal to Chinese market.
Yes - quality suitors have looked in data room BUT out of curiosity.
Yes - there was deferral of talks BECAUSE the BOD were hoping like hell that Winx would be successful and produce sufficient cash so as to not do a farm out (quasi term for dilution).
Yes - there will be a further announcements on farm out BUT they will be further delays upon delays until they find a buyer for all or part of our acerage.
No - there will not be further Capital risings BECAUSE it will not get further subscriptions of any weight. Only small takers from FOMO players. No institutions.
All this in my opinion only. DYOR.