I can confirm from a discussion with OIP that the process suggested by Holy is close to the mark. Not sure of the timing though .. but basically they have to put together an implementation agreement or scheme of arrangement(and once agreed then we will be informed) then get it thru ASIC and the Courts and finally put it to shareholders at an EGM. Very likley though that this will all take many months as suggested by Holy .. so PEL 6 drilling should have been completed well before we have to vote (and from GGX's perspective the Philippines well workover).
It will be an interesting AGM on 26 November if the scheme of arrangement is in the public arena by then ... and even perhaps if its not!!
H
OIP Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
