I can't find any other projects other than Warro for TSV and they seems to have hardly any cash in the bank, i.e. < $800,000. However... This may help explain why they are converting the 2.5c options over the 1c options - just... Could be that the directors are confident of the success of the Warro field. By converting the 2.5c options, which are only just in the money, they are able to add some needed cash to the company whilst avoiding the appearance of trying to cash in the 1c options to make a quick profit. With that view, it could be seen to be very a responsible effort on their behalf and very positive for the outlook of success. If the well fails - they will definitely lose some money on these converted options. Whereas if they converted the 1c options they could probably still make a few quid but make a lot of people pretty suspicious... I may have managed to convince myself! Here's hoping TSVer's!
TSV Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
