Playing dead, tossing out the toys or hiding from the wind?, page-4

Hi AndyIgo, that's a good question. Maybe have a read of my earlier post for an analysis of the mysterious characteristics of PEP11:

https://hotcopper.com.au/threads/pep11-is-a-lot-like-an-electron.4565078/

Technically, RL/SGC will earn 60% of PEP11 after paying a pittance for a postage stamp-sized area of 3D seismic. So at the moment, it seems like SGC will have the greatest exposure to PEP11, if the deal goes through and the seismic gets done.

Assuming that occurs, then MMR should be left with an indirect exposure to PEP11 of about 30% via its ownership of Advent, Asset, etc.

However, neither of these companies seem large enough to raise the funds required to drill a well, so it is likely that further dilution will occur.

Hope that helps!