DB.You consistently voice the opinion that all FAR or CRN need...

DB.

You consistently voice the opinion that all FAR or CRN need to do is spin off some shares into a holding company to avoid PE. Have you considered that the new entity might have to enter into a PSC with the other shareholders in order to carry on business with them? In that process would you not think that the existing shareholders might tighten up the old PE clauses?

If that doesn't fly then the new owner of the said spin off company will have to unpack the original shares, in order to utilize them, and then they would be stuck with the existing PSC attached to the shares.

IMO the current shareprice reflects some sort of expectation building because I agree with Phil, in that the real cash price would have to reflect the burden of the upcoming cash calls. In other words something is brewing and I'm not sure that it's a CR because the big holders would be depressing the price. It's not in their interest to raise the price.

Fingers crossed.