Doctorwho2 it has been a manipulated sell off. Sellers have...

Doctorwho2 it has been a manipulated sell off. Sellers have stacked the sell side a few days ago to make the stock look seriously weak. When you are trading around 16.5cents then why would someone put an order on sell for 1m shares at 19.5c and someone else (maybe same person) put one on to sell 2.3m shares at 19.5 cents, both at the same time.. Obviously way out of the market so why would you do it unless you want the price DOWN for various reasons.
Dorimus may be correct about a rights issue, ETE will need funds for the upcoming drill season on the GRB, for the big VR242 project in the Gulf and a probably a few other things along the way (like maybe exercising a pre-empt over the NFEI 45%).
Personally i favour a placement BUT not to the likes of a Hartleys who totally trashed the stock after the company backed itself into a corner last year. How can you have an analyst writing good stuff (David Wall) and recommending ETE as a buy but the dealing desk is selling it down the toilet. You would never see that from the likes of a couple of other brokers in town tied very closely to US shale plays
The new Board and management will have new brokers and fund managers and will now have people knocking on their door.
I reckon that all the mug punters like us (sorry that should read me) have had every opportunity to buy cheap stock. Generally the mug punters will end up selling their existing shares to take up rights at a couple of cents cheaper, rather than putting large chunks of stock in "sticky" hands which will help to ultimately tighten the register.
They will need money, that is correct, BUT their are convertible notes and lots of other forms of debt etc. Personally i would like to see a mix and then go for the 45%. Take on a mixture of debt and equity!
Make no mistake the big boys are all around buying up stuff. BHP bought $500m this week the Chinese $500m a couple of weeks ago.
The fun and games are only just beginning and it should be a very exciting year.
Regarding Dorimus and SSN that would be interesting but remember that, according to an earlier post, AWE, in order to get ADI they had to go to 42cents when ADI was trading at 24cents, a 75% premium.
As a start point, if Terry Barr and SSN want to offer 26cents, a 75% premium, then it would be interesting to see if SSN was swamped with sellers as was AWE!!
As i said it all should be a lot of fun, while you are at it wht not through in AZZ, they have a $130m in cash and are looking for someting to do with it!!