After reading the wording of the last announcement (14 May) it seems to suggest a farmout partner has been found. It looks as if news leaked before it was released too. Are the Chinese back again with more cash? This probably explains the recent rise, off shore insiders buying and not a simple re rate from mum and dad investors.
Do people think CNOOC will be back, only this time they will be getting a huge discount?
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"As previously advised, Exoma expects to manage its financial exposure to this work by way of further farmout, or sale of interest in the permits."
"Exoma has previously indicated that it intends to further farmout its funding obligations in the permits. Further details will be announced when the arrangements are finalised."
EXE Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
