Genem, it's a 20 million placing, but we've already got 20...

Genem, it's a 20 million placing, but we've already got 20 million from the drawdown, and had 5 million in the bank to begin with. When you consider Monitor were trying to raise funds via a bank loan, you can see it would be relatively easy for us to take 100% of Trinidad. After the placing we'll have 73 million dollars (45 million pounds). Say 50% shares, and 50% cash (so use 45 million dollars of our stockpile up, leaving us with 28 million- enough for the initial 2 wells in Georgia and to cover us in case AOI mobilise, plus enough to take on a smaller side project in Columbia if PL wishes- though I agree with you with regard to perhaps it dying a death).

But here's a thought- after the Trinidad deal we'll be at a higher SP than now. Perhaps Landau is waiting for this initial deal to be concluded, thus allowing him to raise some more cash at 30p to fund a Columbia deal?

All speculation, but if he did have his eye on Columbia, it would seem the logical thing to do.