It is certainly or perhaps uncertainly an interesting read on a Wednesday afternoon.

I generally understand the company’s position and also the political quagmire a law change will get bogged down in, it really won’t be an easy or a short process, and may even terminally spill beyond the tenure of the present government.

But, what I would like to know at this time is, who is going to fund the re-application.

It won’t be Subsea they are skint from their investment failures and/or delays in Neptune and Oceanica, it won’t be Odyssey, they are barely afloat as it is, excuse the pun, it’s unlikely to be Boskalis, they have never invested cash.

Subsea won’t now take up their 28.8c 31/03/2015 expiry options which would have resulted in a circa 15% dilution.

It’s possible that some investment vehicle may pop up and take that 15% shareholding for peanuts and finance the re-application, who knows.

But most probably, sorry AOR holders, I think it may very probably be you that provides the cash now.

Find out tomorrow I guess, if anyone is going, do let us know ?