I find it hard to believe placees whether IIs or PIs who bought shares in the 5.7 placing are now selling for a loss days later. Perhaps more likely to be PIs taking profits from the 4p level and/or stale bulls from longer ago now dumping at a reduced loss?
“Further to the announcement made in June 2020, the Company has received a further communication from counsel to Secura Bio, Inc. ("Secura Bio"), the owner of panobinostat patents that were formerly licenced to the Company. Secura Bio terminated the Company's licence to the patents in June 2020. Notwithstanding that termination, the Company has recently received a letter from Secura Bio claiming material breach of the terms of the licence and is demanding, among other things, that the Company grant Secura Bio a non-exclusive, free licence to its intellectual property and know-how. The Company believes that such claims and demands are without any merit.“
Can anyone explain this quandrary please. Presentation states the 2C reserves are 34 million barrels, and they are talking about production of 40,000bopd, which is about 15 million barrels / year. At that rate production would only last 2 years? What am I missing, if anything?