There's an AGM on the 26th March, good time to go along and ask managment any questions. Much better doing that than making suppositions about what they are and are not doing.
If you have doubts about management, go along to the AGM and speak to Mark and Maragaret personally....I did.
Delays in farm in, has simply been because, this has gotten bigger and bigger since they initially announced data room open, with multiples target zones being identified in addition to those initial ones, in the same location. The data room was opened before all data was finalised.
Not only that, but since that time, more large cap companies have become interested and requested a look in the data room as the word has gotten out, thus delaying things a little longer as they put the rulers over the assets. The same goes for both assets, the Inpex deal would of created more interest in Australia as well.
As a shareholder do i want them to do a farm-in and then to find out later that they missed a massive zone in the same area they farmed-out, and once they farm out it's done...no chances to go back and re-negotiate.
These are very large business transactions, with lots of due diligence and negotiations involved, it's not like buying a car, so they take a while.
TPT Price at posting:
49.0¢ Sentiment: ST Buy Disclosure: Held
