Does anyone know if the recently reported 1.5 km Russian extension of the South Ossetia administrative border to enclose and part of the Baku-Supsa pipeline could have any bearing upon Frontera's delivery network? Georgia has called it a new affront to Georgian territorial integrity. I think the line is administered by BP?
I think so OML as there simply isn't enough headroom for full conversion to happen. Also, I think Puddy may be correct in why the SP is being suppressed.
Personally, I wouldn't expect them to convert at 0.75 either as surely they will wish to leave some additional headroom for further placings/fundings. There will undoubtedly be future cash calls regardless of increases in revenue/profits.
Unless, of course, there is a big farm-out or sale shortly after conversion which cannot be discounted. I doubt anyone will be complaining if this happens. 7p a share and I'm a happy man...
I am guessing this will take place just before the big news breaks , which as mentioned earlier, they are not ready yet to release details until deals are closed or close to closing. Once converted share price goes up excess shares will be sold , and he will take some profits.IMOO
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