Limited upside on any success.NZO....IMO. With a recently...

Limited upside on any success.

NZO....IMO. With a recently aquired 15% off PPP NZO was on the hunt.

Although Directors control a large chunk of PPP stock, they would have had a hard job not recommending a cash/scrib bid from NZO. All PPP had was money in the bank and a stated willingness to try hard.

That is ofcourse unless some exciting farmin could cloud the horizen and slightly raised expectations/share price.

The delay by PetroVietnam in excercising the rights has brought time with more Tui drills and another farmin elephant(transperant and better terms) now looming.

Stupid but clever perhaps? Hope they get the money back easily?

FRED