RE: Current sp23 May 2018 12:10
Bookbuild shares were released to market on 9th May, so any short term profit taking has been completed.
Investors are currently happy to pay 2.3p for 88E's potential on three fronts, whereas they were happy to pay around 4p before Shut-In. Since then we have secured 3D on our Conventional assets of 1B barrels, to prove up what we have and to "Execute a Planned Farm-Out" in H2 2018. We have also secured 3D info on Yukon Gold, which may also lead to a FO.
Additionally, I have just posted the OSH Presentation November 2017 which I urge ALL of you to read. DW made reference to this in the latest ANN. Why would an Oz company, specializing in LNG in PNG, pay $400M for a 25% stake in 500M barrels of OIL on the North Slope. That act, and that act alone, has monetised our acreage.
So 2.3p instead of 4p, with many more strings to the bow, is a compelling reason to consider 88E at the moment.
Good luck!