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Sundance Energy Australia Limited Message Board

  • ntc_bada_bing ntc_bada_bing Jun 10, 2013 10:36 PM Flag

    ummm... ?!?!?!?

    Is this SPP (share purchase plan) more dilution in addition to the recent placement? -I've been on vacation for a week so I don't know if this is just part of the original, and completely unnecessary, dilution.. or if this is new, and completely unnecessary, and now totally obtuse, dilution?

    C'mon longs.. take this junk for what it is and quit answering me with rosey pictures of great land deals.. this is greed by management at our expense. Nothing else.

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    • ntc, since you got it all figured out about the management and what they are planning to do according to your uninformed and outside viewpoint., I have to believe you are too smart to fool around with owning this stock and are here for moral support for us who don't understand the game and why CEO's raise funds when they already appear to be flush with credit and cash.

    • Pretty clear you are feigning ignorance with one hand and fear-mongering with the other to try and get cheaper shares--I don't blame you. I will be looking to buy more if it goes lower as well. Actually am waiting on some cash to come in and hoping stock will stay at this level until then.

    • Thanks for the replies.. so I assume the SPP is dilution in addition to the placement dilution? I see the word limited.. do we know how limited or is it dependent on the amount of subscribers?

      Best guess on $1? I say one year now.. which is not a bad return, but we should have been $2.

      This is SEA management, and it will be.. good luck everyone.

      • 1 Reply to ntc_bada_bing
      • Bada, Qmax .....this SPP was included in the very first announcement about the placement , it's just explaining how one can get there $15k worth at .86 .....and as for the stick in the eye , it has been posted here by both myself and Naga that it would be illegal to shares in the this point ....besides you can buy on the market at about the same rate ......but actually you guys already know this .........

        Sentiment: Strong Buy

    • The SPP is designed to give current holders a chance to participate in the below market price along with institutional investors. It is limited but should help Sundance acquire more EFS acreage. 7300 acres is not that big an acreage position for Sundance and the new financing should allow them to accumulate more surrounding acreage and build up the well inventory that will give Sundance enough inventory to move up into the intermediate producer category.

      Sentiment: Buy

    • This is not new news, but just a reminder of the stick in the eye by management to all non Aussie and New Zealand holders, most of us in other words. Of course that opportunity to buy at a significant discount is now gone, as the market corrects to this nonsense.

      I continue to think someone was snooping around, looking at the cash and assets, and stock price and thinking maybe this would be a nice takeout. Management probably figured it out and is destroying value to protect themselves. Wouldn't be the first time that's happened. i own a couple of other energies where mgt is doing the same thing. I am a capitalist, but one thinks maybe a few of these folks ought to be going to jail.

      Speaking generally of course, not accusing SDCJF mgt or anyone else.

      I guess SSN shafted shareholders one way, so these guys are trying different way. Hope I am wrong, of course.

    • well, nothing rosy here. I used to think i needed to buy more... I'm not. ......value maybe... but they sure kicked the can down the road... holding for now... and certainly not buying anymore!