It’s the logical extension of the previous cancellation, given terms governing ownership and cancellation were probably identical/similar. This should reserve rights, and follows the lead the judge seemed to give.
Interesting that they mentioned Giovinazzo may challenge this - which would imply he hasnt given up challenging Billis. Does it suggest that GPR ownership may not be a settled matter if both of them may challenge RIM on the cancellation?
Hate discussing this crap though, look forward to a definitive solution via arbitration if possible. At least the drilling continues unfettered in the meantime. I’m pleased the board remains pro-active in all these regards, need to keep the market informed and the momentum moving forward.
RIM Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
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