Pinetree Appointment Looks to me like a Pinetree (feldman connectiojn) placement to maintain regulatory requirements. Still have debenture overhang, no O & G competencies and primary asset soon to revert back to government.
Bwn and PNP holding 8.5 MM and 4.2MM shares respecively. I wonder who bought Sheldons shares?
Doesn't matter and it is just a matter of time.
Here's my call - Shares for debt, share consolidation new players, new company, new story. There's no other choice except bankruptcy.
Nick stepping out pretty much confirms for me there is no white knight or hail mary deal to be made.
This will take time and for me is a write off.
Good luck!