Alan Booth is unlikely to want Encore to develop any of their finds. It just isn't his style.
They have only taken one find to production.That was the Ceres gas field where they held 10%? It was too small to sell on it's own so they did a deal with Egdon.
One thing Encore are good at is playing the UK tax system to their best advantage.Basically if you keep selling different field the proceeds are taxed as income but if you sell the whole company it becomes a capital gain and different tax rules apply. Think bigger allowances/concessions.That's the reason for seperating the XEO assets. Those assets aren't in the share price anyway so it has to be a good move to force the market to value them.
These guys are very sharp,they have been around and they know the business inside out. If they can show they have no urgent need to sell they can drive a harder bargain.
Ignore the posturing ,they will sell when it advantageous to do so BEFORE they have to fund development.
For the record I don't hold Sterling because I held 250k shares in Encore at one time and was too exposed to drilling risk at Cladhan.I've reduced that by selling 25% at £1.12 and 35% at £1.33.I still hold 100k.
I lurk on this board because the quality of posts is so high and much info is relevant to Encore.At these prices Sterling is a buy for me and I will load up once I finalise a house buy which is currently ongoing.