RE: Sequoia / Apec / SpotOn2 May 2021 00:46
I think he got greedy and thought he could drag it out then buy out PVR (Reverse takeover PVR speculation ring any bells?) when they ran out of options. Alan should have backed himself more at the start, but the oil price was low, and the traditional farm out (give away half the company) was assumed to be par for the course. SO we're in breach of contract, then given 6 weeks grace, but due to their own greed and subsequent complacency, blew it. As mentioned in PS.'s post they got cheap shares that none of us were offered, so have received fair remuneration for the work. It's of great concern that one man almost acquired half of logp and PVR for setting up a deal, and luckily for us then, that he failed to raise the cash. The deal made when it was half what the oil price was a scandal for shareholders in hindsight.