Deal signed October 3rd? Typo? Through its wholly owned subsidiary Lion Petroleum Corp., Taipan signed a farm-out with Premier Oil plc of the UK on 3rd October 2013. Under the terms of the transaction, Taipan will retain a 45% interest in block 2B and will continue to be the Operator.
On October 3rd TPN traded around 27 cents. Between the 3rd and 11th nearly 4 million shares traded. (Yes, much higher volume than usual.) They only company that I ever had that didn't leak like a sieve was Virginia Gold, oh, for that type of management. Now the weekend long halt makes sense.
Not to nitpick, BOBF but I am feeling a little sour, you said SINCE you owned TPN you have delevoped a healthy respect for Birley, but then you tell me it was based on his past experience. Present experience tells me it's going to be tough for the retail invesotr to make money in this thing.