Ok - we raised $80K before costs in the SPP. That ain't lasting long if you are drilling. Not great either for the people that got stuck with those shares at 2.2c. Bigger issue is: when is the next SPP taking place?... must be weeks away only. If the "supporters" couldn't keep the stock above the SPP exercise price first time around, I suspect TNP would have been better off delaying the closing date even further or just cancelling it altogether. This does not look good - but maybe it gets TNP past the next weekly drilling update and we'll have hit some serious gas by then. hmmmmmmm. If the market knows another placement is coming...who is going to buy on market? (this does help with any potential overhang either). Only a great announcement can prevent this from heading further south real quick imo. All very strange......and disappointing.
TNP Price at posting:
1.6¢ Sentiment: None Disclosure: Held
