PP is a done deal for sure !!No question the placement already was a done deal when announced because:
1. Priced above the market.
2. Closing within a week.
3. Non-brokered.
You simply don't place $15 million non-brokered without prior interest and firm commitments from institutional investors and perhaps some insiders & friends around F&M. It also means that they must have received valuable information about the current drilling progress. Why else would you take the risk weeks before the outcome. To me this all suggests that a dry hole is out of the question. Yesterday provided the best ever buying opportunity but I would even keep on accumulating in the 70 cents range. A political solution is around the corner for Kurdistan now that they seem to have made an extremely favourable deal with Al Maliki. Vast will trade north of a buck before Halloween.........