Its a bit mystifying why MHL would want 90% but not 100%. Im...

Its a bit mystifying why MHL would want 90% but not 100%. Im sure one transaction would be neater. But I guess the sellers may have needed some upfront cash, hence selling and finalising the 10% first.

At any point in the future MHL can always buy out the other 10% or sell down its 90%.

If their is a large debt component, I would certainly approve of adding value to Trinidad by ramping production, the divesting at a premium to pay down debt.

We could easily free carry ourselves.

Buy 90% for $90mil @ 700bopd
Sell 50% for $90mil @1400bopd

New owner still gets alot of upside to 3500bopd. Could work.

T+3 means we aint getting that xmas present!

Maybe the announcement will be another extension? Certainly they promised an announcement and ASX will request a response or they are in breach.

To be honest im more disappointed with the apparent change in funding. I signed up to Komodo specifically for the cap raising. Made a binding commitment. That expired. No issue their. But now suddenly Komodo clients arent part of the deal only instos? Seems odd.

If they want $90-120mil, then I would think a diverse share base would require a placement to instos, placement to sophs and a rights issue to get it over the line and keep a balanced register.

Lets see if they pull a rabbit out of the bag.

If Virgin Mary can fall pregnant and give birth, then anything is possible...even for MHL.