Member Info for CaveatEmptor

We were trading at over 50p in early April without confirmation of the transaction so I see no reason why we shouldn't get even higher now. Once the significance of the deal filters through I can see major institutions becoming interested - there are few companies in this sector that are such a good bet - and that can only be good for the SP IMO. CE.

Sorry, should read funding - not gunding (fat fingers!)

I think the significance is that in addition to the $38m cash payment, the vendor will also fund up to $36m (inc Vat) of further development work - this significantly de-risks the opperations and we still get up to $90m more cash dependant on issue of licences and a successful Appraisal Work programme. cash in hand means no need for gunding moving forward so no sign of any dilution any time soon. Possible cash upside of $128m and considerable stake in production profits for a company with market cap of £112m makes this a very attractive bet IMO.