I reckon financing uncertainty is the No1 thing holding the SP back. PE is only (huge) upside and very limited cost downside.
Once we confirm how we are going to fund SNE development, and put to rest any fears of increasing the share registry, then it will be positive development.
Some sort of dilution or value transfer is absolutely necessary to fund $300-400M, but no-one wants to see a raise at 8.5c and 10billion shares.
Cheers
Bp vs Woodside in senegal, page-26
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