Ann: Modena Acquires Interest in Orchard Petroleu, page-3

re: Ann: Modena Acquires Interest in Orchard ... Aha ! So the target was Orchard. Fancy that ! They do like to keep it in the family.

I'm not too sure how to read this one. I could see some of the negative posters having a field day on that information.

You see Orchard Petroleum was a partner with Nuenco (NEO) (now QPN)in the South East Lost Hills (SELH) acreage. They had a 50:50 partnership in the SELH shallow gas fields {4 Jack Hamar wells including 3.13), and a 63:37 arrangement in the SELH Deep oil/gas fields J.H. 1.1 and 1.2)

Orchard was the operator but became much more interested in its South Belridge discovery which offered upside and that led to it being taken over by Crosby.

Now why Crosby would turn around and offer Modena this arrangement is an interesting one.

I suggest you go and make a list of CEO's and directors of each of the following companies.
Golden Gate Petroleum (GGP)
Modena Resources (MDA)
Orchard Petroleum (could be trickier now that it is not a listed company but you may find some info through checking out Crosby)
Quest Petroleum (QPN)
Salinas Energy (SAE)
Solimar Energy (SGY)

Now it will be interesting to see if you can find some connections.
Nothing terribly wrong if you do, though some posters would find a lot to hate.

Good luck.

I would say that while the exposure to production should be useful to MDA there will be a little bit of hesitation by some punters now on finding out who the "target" company is.