you should have participated, i did and lowered my average price from 17.02c to 6.97c (including options), because the rights price was only 2.3% of the original cost price. Regardless, the recovery will be based on their flow rates. POO at $50 does help.
They're still idiots at running a business (see today's AGM announcement, they have to look for authority again to issue shares to Middleton because they forgot to issue the shares...) but now have the likes of Lanstead & Magna on board to help manage the business. As regards drilling, they are very successful and must be the cheapest in the business! - What other Board turn into roustabouts and actually drill???
Highly unlikely we'll get our money back, but there will be an opportunity to recover most of the losses at some point in the near future.
GL Wazz
AKK Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
