I agree! A merger may still happen of course given that the "dissenting" board members have resigned! To some extent the fact that merger talks apparently initiated by ESG have been ongoing explains the "delays" in getting on with the drilling". ESG will end up with 75% of the most prospective acreages post-farmin obligations anyway .. so either way if the drilling comes up trumps ESG will benefit!
We have speculated that another company may see OIP's careage as tempting given its proximity to ESG's and they may take out OIP cheaply. Looks like ESG was affraid of the same .. and wanted to get in first to 'buy back" what they spun off when things were tougher funding wise for ESG.
H
OIP Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
