I agree that now is not the ideal time to have a boardroom...

I agree that now is not the ideal time to have a boardroom bust-up as cashflows are looking very tight if they don't get first oil in May, and this was highlighted by the auditors in the recents interims, when they said the company would not be a going concern if they don't get near term cashflow from Athena.

I can understand why the Fund Managers would want to get rid of Haydn Gardner in particular, as he has a lot to answer for given the loss of the Senergy case and the horrendously expensive short-term funding deal he struck, but their timing is not ideal.

In my view it would have been better to wait for Athena to go live and the cash position to stabilise and then make their bid to change the management.

I doubt a quick sale of Athena would pay enough to make it worth our while as we would still have to settle the loan for $32m and the Senergy claim, which would not leave much for the shareholders.