RE: RE: My rationale If Athos only sold 2.8M of their 17.4 M shares, they still represent a substantial percentage of the overall holding and they may well still continue buying more while the SP is low. I think that this buy back of 4.5M shares will give Ed a few options; i) sell in the future privately as eluded by Moose, much better price per share is there is only 73M shares than if there would be 94M shares, I think that before this happens, he will need to have a much greater production to get a fair price that represents the potential of block 9, ii) when they initiate drilling and production in ethiopia, he could well finance this undertaking by issuing additional shares, they bought 15M shares at $2.45 and if this is done in a year when production exceeds 10,000 bopd, they could ask for much more than the original purchase price, hopefully in excess of $4.
Does anybody have a clue when Ed's hearing with the ASC is to occur, still shown as indefinitely.... Looking forwards for this one to be done and over with. On another note, hopefully drilling will be initiated this month (southern plateau, sueda) but I read last week that there were some battles between calvalley's armed security guards and local tribesman. Hopefully, these have ended. If I would be in Ed's shoes (thank god I am not), I would tend to take all steps possible for a potential production increase before the AGM to calm shareholders.