Curiously (but unsurprisingly) quiet from the Fontaine camp -...

Curiously (but unsurprisingly) quiet from the Fontaine camp - but it seems new positions (from Europe??) are being formed already! Weird and wonderful stuff.

The fact is that this share is worth about +/-$0.012 at the moment. Look at what they have - $1.5M in the bank and 50% of 25% in something that was worth nothing - but will be (if the farmin proceeds) worth something (about $1.5M according to the independent expert). Added together - that's about $3M and being generous - will give them $1M for the shell - so total of $4M or about $0.012 per share. And this assumes the farmout deal goes through!

If it doesn't - its worth even less - because we then have to keep funding Advent 100% for our 50% share - and we don't have the money to do anything meaningful anyway - so it will go nowhere. Good luck raising large amounts of money in this screwed up structure.

All I want the Board to do is to get this deal through, cut the "bleeding" of cash into Advent, do a deal on the other assets they have and find new opportunities that fit the Pooled Development Fund model - and lastly, if you are going to raise more money - get some brokers in who will support the stock - but leave some on the table for us poor investors (an SPP for instance!).

Like all - I am frustrated, but it seems to be heading in the right direction. Surely Hock has some Santos brainiacs he can wheel in to help sort this out? Santos was dire - now looking healthy again after big re-structure.

GLTAH