I agree - this is a backdoor deal for sure. Privately owned...

I agree - this is a backdoor deal for sure. Privately owned operated UK company gets cheap way of listing its assets! Also since we currently have 4 directors - when this goes through, we will have 5 directors and only 2 key. Majority Zeta Petroleum.

Wonder how long it will take them to seek an AIM listing (since they are from the UK). Probably a benefit, as to be honest they seem to see the real value in these sort of stocks.

But massive dillution for us, and further to come to raise cash for projects (unless they plan on selling more things).

At least Ken won't be the managing director. But now our company will be run by an accountant. At least he might have contacts in the industry for finance! Technical director looks okay experience wise, and Tim, a lawyer. So running the place will be an accountant, and oiler, and a lawyer.... Good thing or bad thing - i guess time will tell.

How can they be any worse than the current lot.

Valued at a premium I saw, but still cheaper for Zeta than them doing their own listing. Cautiously optimistic now. But not enough to buy another stake.