Mitchell, hello
I have 2 observations.
1. The press release which refers to an $18 MM line of credit does not say that this amount has been made available to EDII. It simply says that this is the limit, set by the bank, which is available to any single lendee. It is a meaningless fact which was salted into the press release to mislead, as it has done.
2. The land which is adjacent to Marvin Davis' mega (hype) discovery does NOT include any subsurface rights. These rights are divisible in this state, which is to say that they can be owned separately from the physical surface property. In this case, subsurface rights are owned by some other entity. Has anybody discovered who owns these rights? It is, after all, a matter of public record.
Please let me know if I'm reading that press release incorrectly.
Regards,
Aggie |
