Shel, Cmon and all, personally I think if mgt & coy can improve its reporting and provide greater insight to the actual numbers that support the market cap then the consolidation should not be a major hurdle. Having said that there is a general market perception that consolidations are bad and unless consol level is supported this negative view becomes a self fulfilling prophecy, often taking a while to recover.
The overall sentiment for O&G sector remains poor imo so reporting now needs to be spot on and hit the mark to sustain confidence. Many other coy's have done these over the past few years and imo more will occur in the future as mkt conditions have been poor for CR's and it is important for coy's to now clean up there registers to create room to grow in the future and give returns to S/h's when/if things start to improve.
Wrt capital raising imo a clear message here was in the annual accounts, page 72. Note 30. The note is the same as last year other than the words "which is highly likely". All s/h's imo should have read and formed their own opinion on this note and I believe should keep in back of mind when voting. I don't hold so it makes no difference to me what happens but I think informed and considered decisions are usually better decisions and should consider all possibilities and be factual not emotional.
GLTA, some positive steps have been taken this year which can give some confidence but no oiler is without risk no matter how good we think a stock or mgt are.
All opinion only, Cheers
AKK Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
