Don't think that the sale is a negative, the four sellers own almost half of Cobalt so they remain heavily invested. More interested in seeing who picks up the 50 million shares or about 12% of Cobalt. A good opportunity for a major oil conglomerate to take a big stake knowing the potential of the West Africa prospects and buy into some huge potential reserves at a cheap price.
I wonder if the Chinese are buying. CNOOC might still be hungry even after all their recent purchases. They just bought Nexen earlier this year, which in Houston is occupying the building next to Cobalt...(I thought I mentioned that just for fun)