yeah that is an interesting point chand. it certainly is not a...

yeah that is an interesting point chand. it certainly is not a sugar coated announcement. I hope you are right about it being for positive reasons rather than negative, but my guess is different, I think they had something in place, those with the cash walked away and now oil has to find money from somewhere else. my guess is that they will borrow more from their big shareholder. Or if not then they will do a capital raising from shareholders, as you suggest. in that scenario the bluntness of the announcement might have been designed as a message to shareholders that we had better put some more money in or the company is finished. there are a few holes in my scenario too, but that is my best guess anyway. Please please may I be wrong and you correct because I want my shares to be worth something rather than nothing.

mangy, good for you getting out, if I had the option of selling my shares now at 2c I would do so for sure.