If it is as you say VPE buying a stake in ITC then it's yet...

If it is as you say VPE buying a stake in ITC then it's yet another blunder by dry hole John, but one that has been coming for a while - anyone remember the last raising and wondering at that time why they needed cash?

Why purchase shares in a company at a premium when they aren't and cannot have any activity because of a natural event?

Wouldn't it be much smarter to let the company dip on the basis of Zero production till september and then if necessary buy in.

I just cannot believe how blind this company is to it's CSG assets - that field is premium and yet perhaps because of management VPE have been focusing only on oil until late last year. Bring on the CSG development in light of no Cooper Basin activity I say.

The mind boggles.