worst case 3c per share cash best case cadlao , page-79

Sidthefish this was my original post

"Where is the down side at current levels?

From the quarterly

"However, should the arbitrator find in Blade's favour, Blade has the option to acquire the Company’s existing 25% interest (together with associated royalties) for a sum
calculated in accordance with the FIA and estimated by Raisama to be in excess of $7.3m."

so let me get this straight worst case RAI loses its 25% direct interest in Cadlao but will receive $7.3m cash settlement which would be close to 2.5c a share cash

but then they still have an indirect 16.25% through the latest deal

"Under the funding agreement with VenturOil, Raisama will acquire a 16.25% indirect working interest in the Cadlao project."


But importantly "VenturOil is only obligated to pay these costs following the “spudding” of the first development well at Cadlao, currently scheduled for 1Q13, which then closely ties project funding with project revenues. As such, Raisama does not have any near term funding
obligations"


They should let Blade win take the cash and sit back and let Blade bring Cadlao on

Either way 2.5c-3c I dont see much downside"