Interesting. On the surface it seems very disappointing.
Genel's interest must be pretty low. This new price now works out to be $400k per percentage point. Genel obviously didn't want to pay >$6m for another 15%, a 60% discount to what they originally paid. Obviously not interested in "averaging down". It makes me wonder if they (JKA) are questioning whether Genel will actually fulfill the farm in requirements? Perhaps we will end up with 50% and operator status being returned to us.
JKA Price at posting:
8.3¢ Sentiment: None Disclosure: Held
