EGI Takeover?

I wouldn't discount an offer from EGI. They spent $5m on acquiring stock last year at 60c plus as well as recently topping up their position at 11-12c. They hold around 8%. Remember they like the asset and may not like to see it go to Private Equity who no doubt hope to flick it in a couple of years at double the price when oil eventually recovers. They may wish to play that game themselves given they already own 8% of it.