They aren't a public company like us and the cost of this drilling program has blown out fairly badly.
It's been mentioned there's only a handful of investors that make up SEI and i'm sure they are as nervous as us lot re the outcome of this drilling program after the problems we've encountered.
I think they have have taken steps to prevent having to dig deep again while retaining a healthy interest in both Spain and Uruguay although monies from the deal announced today could be a long way off, like at least 6-12 months or more (my guess) as the last step is a rubber stamp from the Govt there which has been the problem for 3-4 years now. Hopefully the new investor has the expertise to expedite that and get it happening.
PRL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
