I did hold the opinion that this would either be developed or the company taken over, either of which would see an sp at a good premium to these levels, my concern now is that they will do a cash call, diluting shareholders just to get enough money to continue to pay their own wages.
I really hoped that we might finally get some good news.....but deep down I always suspected this would be the outcome, will there be another twist, who knows, a lot depends on what now happens to harbours share, are we convinced it reverts to RKH?
On another note pretty ordinary set of results from Harbour, they had reduced their debt 200m in a little over 2 months, only another 100m since, what happened to the 220k bpd, oh yes Tony Durrant said that didnt he....my bad.
Look at the edison reviews on rkh, im sure they estimate from the then sp what the market viewed as the percentage likelihood of sealion proceeding, which from memory was somewhere around 15 to 20%, as for the rise in the oil price, you ask if I dont think that may change the markets view.....well it hasnt yet has it, as evidenced by the sp so you have answered your own question. I said I disagreed with your post, and said why, nothing more, how F...ing dare you try to tell me what sort of investor I am, who on earth do you think you are? I have read and re read every rns this company has issued for over 10 years and the same with RKH for the last 5. If you cannot respectfully disagree with someone then you are the one with the problem...........anyway you have been filtered.
With respect I dont feel it is surprising at all, the current market view is that the FI discoveries, including sealion, will become stranded assets and they are rated accordingly, this has been the case for sometime and there has, as yet, been no positive news to change that, if it ever changes there will be the mother of all rerates in all the FI shares.