Really no idea mate. But MHLO were struggling long before Trinidad and the suspension.
I did ask MHL when we first knew of the restructure about the possible rights issue.
At the time MHL didnt know any ratio, but made a point that MHLO holders would be given access to cheap shares too. Probably they need to see how much they get from placement before they offer us.
Obviously, as is always the case, the MHLO will be consolidated in the same way as shares. So in that sense you are no less likely to be in the money.
This deal can still go so many ways.
I believe their will be an instant profit on the placement shares. Not sure if it will offset any losses on current holdings.
Long term, the lease seems solid. We have the staff and the equipment. The ramp up to 3000bopd should be realistic, but it will take time.
Might be that we need to revisit MHL in 12months?
MHL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
