I spoke to the company last week and expected an announcement...

I spoke to the company last week and expected an announcement early this week - hmmm, wrong this time!

I am not convinced that we have trouble. A few thoughts have penetrated the silence - it maybe trouble but also it has an Asian feel about it to me - god knows why. Many developing nations are paying a premium for strategically placed assets at the moment - large premiums.
It could go either way I guess - ie. a disappointing result (low price or worse still not go ahead - or sell at a price that will blow everything away. I can't see the point in selling an asset like that cheap - particularly at this time.
I was offered the cap raising and put my hand up. If this all went pearshaped and the cap raising came again - I would be alarmed at the passage of things because I expected better of these blokes (judgement wise) - but I would still go for it because I think the company is ok.

As to what thoughts about a cash payout - hmmmm. We would have to fund building the port, but, also a juicy div. or cap. return would be rather jolly.

I guess it all depends on how big a cash payment we get - I have spoken to noone who has any idea. Like I asked before, how much is 30m barrels proven and maybe 60 m barrels plus a pocket full of gas worth? Add on territory next door that must have high hopes and what is a fair figure?

In summary - I have just said bugger all and wait sort of patiently.
Have a good weekend.

Pinto