I was happy with the deal until it got to the bit about giving up our 20% for 10 mil. Completely agree with all the poster who have said it seems like we are left with no upside. However, if we couldn’t get the funds to drill Talma then I guess we had no upside anyway. The only hope we had was for a takeover or a better deal to come along, which should have been a strong possibility with the demand for gas on the east coast growing stronger over the next 5 years plus. A large part of me thinks we would have been better off doing nothing until this happened.
I wonder at what stage we are asked to vote for the deal? Surely the company must realise if they want us to vote for it then we deserve some more information to have our uncertainties addressed. I have also emailed them but not holding out hope of getting any response as all of my emails in the past have never been answered.
Well, it’s going to make for interesting times ahead to see how this all unfolds.
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