must make surprise 1 an oil producer, page-48

Look at the depth now though. If CB wanted to sell 3m for the reasons he outlined do you think he could? I would say he couldn't today. He may well be able to if a positive announcement comes along but thats the risk he has taken which he acknowledged. I would say the depth is not going to build again unless there is a positive announcement. The decision he took would appear to be a prudent one given how much he was holding and the typical volume on the options. Lets face it holding CTP is not like holding BHP and the risk / reward is likely to be dramatic. Time will tell if it was profitable or not (I won't say right or not) but what I was getting at is the option is not available now to other big holders who I think will have to hope for the announcmeent or perhaps if a buyer comes in for a punt and puts a bid in. If I was wanting to get out, given the nervousness around here, I certainly would not be showing my cards and would be hoping for a buyer to step up and put a limit order in and then hit it as a market sale. But each to their own.