suspension, page-57

After building a stable of cash producing assets I just don't get the point of a partial asset sale.
The company has positive cash flow and the capital raising and refinancing have paid down debt to a point where the company is comfortably meeting its debt obligations. I have been building a position, at an average of 22c, during the last year on the view that cash flow/profit will rise with oil prices(not so much gas)and cost cutting.
I am prepared to hold with the view/hope that by 2012 they can get the EPS up to 4c and the share price around 40c.
However if a bid turns up next week for 30c I will be more than happy to take it as management and the recent track record are not inspiring much confidence.