Given the monumental failures on managements part, and given they fed us full of bs info about finishing this campaign in time for option conversion but are yet to even start...is it out of the realms of possibility for Petrel to do an "options buy back" similar to a share buy back, maybe at the price the heads are at on conversion day?
I am only saying this as I genuinely feel completely duped by this BOD and I am sure many of you feel the same.
Is this legally possible and has it been done before?
For example...this from 22nd November 2016:
"It is anticipated that much of the equipment will be mobilised by mid-December allowing for site
preparations to commence, while the rig following a final fitout will be mobilised in January.
Regular updates will be provided from initial shipping through to site preparations and spudding of the first well."
Not only did this not happen, not even close, but the "regular updates" turned out to be a massive lie too.
PRL Price at posting:
2.2¢ Sentiment: None Disclosure: Held
