convert options to ordinary share - how, page-13

LOL, I'm converting mine - into an income tax deduction.

Could have been different had we progressed to meaningful farm out by Dec 2011 - even march 2012 but such is the nature of things at this end of the market.

In hindsight management took a punt especially given the wealth of experience on board to even suggest Dec 2011 as a possible farm out conclusion. This was in their business plan since early 2011 and they continued at every turn to insinuate a deal was forthcoming, tantalising us with the multi-billion dollar Majors falling over each other for some action. This position is still being maintained by management, the market however is tired. Share price tells the story.

I hope they will refrain from any further hype and keep to conservative time frames in the future. Maybe the lesson has been learned?, the silence from Delphi st has been deafening recently.

Also wondering what the instos. and sophisticated investors are thinking at the minute?- their recent $7.92 million dollar share purchase (180 million share cap raise)is now worth $5.94 million - Ouch!

I have an expectation for the company to deliver some tangible results to shareholders this coming financial year.


Opportunity IMO, still firmly remains at 10/10.


Cheers all.