To be included in the capital raising appears to be a warm and fuzzy invite to be part of the company moving forward . Two important situations confront me . 1 . The discounted share price devalues your existing share value . 2. With the 82% Partner announcing that their full entitlement will be taken up will leave those of the remaining shareholders weakened by the percentage of those not taking up the share offer. Being more marginalized will result in less interest in your shareholding resulting at a time of the major shareholders choosing to make a compulsory acquisition of the remaining shares at an even reduced price to this current period normally when the minority shareholding reaches less than 10%. I see a sad choking to death for the remaining shareholders who did not accept the original offer when that Phil Byrne sat in the CEOs chair and over saw failure after failure of wells drilled , outside of the Galoc venture and then pulled the rug from under you . It is a very unenviable position you are in and that is why no one will touch your shares with a 40 foot barge pole .I am not clever enough to help you out of this situation , but I can warn you not to dig a bigger hole by going into the SSP .You don't even get a share certificate any more which you could frame and hang on your computer room wall with the Heading .WOOD DUCK. This is only my opinion and I may be a complete idiot , so do your research and do it carefully please. I will be interested to see the change in the % of shares in the company held by the majority share holder who presently holds the 82% and how much the minority share holders have been weakened further .
NDO Price at posting:
8.1¢ Sentiment: Sell Disclosure: Not Held
