albi and acrushorI agree with albi ... the placementees needed...

albi and acrushor

I agree with albi ... the placementees needed an incentive ..note that it w=ended up at $26m when $35 was runmoured. The market is not so willing at present! And yes having got that out of the way ... when they announce reserves the share price can run (and it will be enciuraged to do so by the placementees!!).

The next funding infusion will be the Orion spin-off. At present the assets they will spin off are valued by the market at practically zero. After the float ESG will hold 35% of the shares in a company that will have been funded to carry out conventional oil and gas exploration and development. Perhaps they wanted to get the placement out of the way to allow a little time before asking the market for more funds for the Orion float?

ESG is going places .. its in my super fund along with a heap of TZL (that I have held for several years and topped up at $2.10 a month ago).

H

H