Oh, what the heck...
I have been a shareholder for years, and had nearly given up hope. This cracked me up at first, but has gotten my attention so much that I decided to pay for a post.
Let's look back here. It is obvious that Indonesia is a fiscal basket case and is not going to be fundable, although I still hear from technical folks that the properties are just waiting for development funds. I was hoping against hope they could fund another well, but apparently Indonesia is still a graveyard for new investors.
So, mgt tried to get access to big new properties in Iran with supposed proven reserves, which more importantly will be financable according to a Canadian investment banking friend. OK. And he says some larger co's are watching closely, and that the terms of the Iranian thing are pretty reasonable. Great. But when is that going to happen? I can only presume that is bogged down due to typical third world delays. In the meantime rigor mortis sets in.
So then what? The shares dying, the warrants delisted. Boom. I have no idea how they found this thing. Obviously ezuz is looking for a quick Nasdaq listing. So what do we get for this?
So far, it looks basically like we get the same oil company with the same Iranian potential and the same Indonesian properties. The difference is it comes with a free internet play thrown in, which has boosted the shares fourfold or so, and the volume more. Somebody's listening, and it's not the old oil crowd - the rise started a couple of weeks before the announcement. Question is, is it real enough and do they have the strength to hold it up to market head scratching? Who are their institutions, and what are these guys made of?
And then the new shares for the o&g - listed where? A new IPO? Takeover? New backing maybe? Drilling finally? OK, in any case a price uplift likely. Good so far. Then Iran on top if it comes in. OK again.
So what the heck, I now think it's probably better than just waiting for Iran by itself. Ballsy, yes; value-adding, maybe - but what do we have to lose? At least there'll be some volume for a change. And what if it works?
Anybody checked out the internet site? Does it work?
Kodi |
