Ann: Guyana Exploration Update , page-7

Very small volumes with this stock though.

There is only about 260m shares on issue currently.

Interesting to note thate before the acquisition of Takatu there was only 56m shares on issue with a market cap of $4m.

As part of the acquisition there was the issue of 12.6m unlisted options excercisable at 4 cents and 10m unlisted options excercisable at 18 cents with both expiring on 31/12/2012.

106m shares issued to Takatu shareholders are in escrow for 6 months. That is almost half the registry! They were issued in 21 December 2009 so they come out of escrow on 21 June.

The worry is that there is a large dumping when the shares come out of escrow. Also, the 4 cent oppies are in the money but i cant seem to find if these are in escrow or not? It would be very easy to excercise and dump forcing the share price down whilst taking an almost 100% profit.

In reality, it obviously can't happen exactly like this for the following reasons:

There is no volumes on the buy side.

30% of the shares issued for the acquisition went to instos who held Takatu shares, so I would assume that if they were willing to hold Takatu, they'd be willing to hold EPS.

And share placements were done at 7 cents, so those holders won't be selling.

Thoughts?

Does anyone know the deal with the 4 cent oppies?

UAO