WISR Ord Shs V.WZR

FDP and options action

[canadafox]

N;  The FDP was an MNR decision based on a TLM ( as operator ) FDP submission that evidently did not meet their requirements by quite a margin.  For example; the KRG need gas as the Dana Gas dispute and the shortfall from Summail will have put them in a bind for local gas to power the electricity grid.  They must therefore be using liquid hydrocarbons currently in the absence of gas and that is very expensive.  The KRG currently have a great shortage of cash as everyone knows....

WZR are affected of course but will have had no prior information as the FDP and MNR decision is not their responsibility.  If Crest are happy to proceed then their equity backstop probably means that the issue can go ahead without antagonising the market.

A resolution of the FDP problem can be expected in the near future.

On another matter; I promised to ask the company about the very recent share transactions and I did.  No speculation needed as the company were very direct in response.  These resulted from 2008 options that the participants had no opportunity to deal with for the past 16 months due to a conitinuous closed period.  There was a very limited window available before expiry and so it is no surprise to me that those that felt they could not pony up then exercised and sold at what looks like a minimal return.  The CEO received new options in the recent funding deal if memory serves.  Nothing abnormal and so 'stroll on' those that wish to ascribe dodgy dealing and a lack of commitment by management.

Is it not better to phone the company rather than point a finger dripping in acid without any checking on prejudices ?  If IR is  available - they will IME reasonably engage with their investors whether large or small.  This is in sharp contrast to the vast majority of quoted companies.