My thoughts exactly as expressed in a number of posts yesterday! OIP is not in many ways a independent company anyway having been spun out of ESG to raise funds and ESG havwe retained 23% and they share some board members. Bit shabby nevertheless not to tell us anything at present .. I'm chasing Morton for an answer on this.
Yes no doubt ESG's desire to reclaim OIP and particularly ALL of the csg rights to their leases is behind the slow progress with drilling. Its true to say that if ESG is pushing for a "cheap" merger ahead of PEL 6 drilling that I might agree with former board members who were sacked ... that this would not be in the best interests of OIP shareholders (other than ESG, I&S and of course ESG shareholders ..of which I am one).
H
OIP Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
