what a difference management, page-22

re: ... what a difference management Pacey,

I think it was April of this year that they had to raise funds via the placement to meet financial demands on their business. The Board believed at this time the business was not able to self fund so they went outside to obtain funds to tide them over. Four and half months later The Board must still have held cash concerns because we now know they were prepared to listen to offers for the business lock , stock and barrel.

One of the other posters suggested a partial sell off. What did they have to offer that brought any immediate cash into the buyers bank account, only The Ching Field and that had bits falling off it and will cost to repair.

I think one or two in the industry looked and said "no thanks right now thats trouble" and who can blame them with a falling oil price.

Tullow has done the correct move for themselves because they probably see Uganda as another Nigeria in a year or two any other part of HDR that turns out a winner will become the cherry on the cake.

I know I am being harsh with my view here buts that is how the events of the past week appear to myself now the cat is out of the bag

regards