Yeh I agree with Newland (unfortunately for my long suffering...

Yeh I agree with Newland (unfortunately for my long suffering holdings..).

The first tranche I bought at was 3.9c - to see management sign off on a deal where we give away our main assets for what amounts to the current market cap value (and a pittance considering the potential) when the share price is now near it's all time lows seems like really really poor deal for ROG.

The deal seems a marvellous coup for EPW. They fund some drilling and get all the prize if they find anything decent. I also can't see the price pushing a great deal higher even if we retain a 20% holding of a sizable asset when punters should be aware that the sizable asset (if thats what we find) disappears for a measly $10 mill any time EPW wants. We would be left with not much and $10 mill which equates to the current MC.