Ann: Trading Halt , page-59

Good Post CnB

I've also had great hopes for SDL come to nothing not so long ago (hey I was one of the most bouyant of backers). And it'snot the case that I don't think the project is ever going to get off the ground. It's just that Capex funding is the most important issue faced by SDL so I'm quite sensitive around anything that relates to that. in particular signs that it's not going well. Those are the signs I'm seeing at the moment.

The article in The Western Australian was a good read. I too like the idea of them chasing short term funding at an institutional level instead of just another SPP. I'd be even more happy to find them raising the money at or above current trading prices.

Anyway, as I've said I am a holder (as opposed to a trader) so I'll be watching and hoping the directors can get things turned around. I'm just wary now about spin regarding clamouring, interested parties. The drilling is probably the right move in light of where I think things are at in the negotiations. I'd love to see them define 400+Mt of DSO and then tell the prospective partners the playing field is now well above where it was before.

Here's hoping

Illiquid