What attracted me to this company was Paul underwood, what happened afterwards was just pure greed by some parties. I think we all know what happens in some junior companies. Lets just leave it there.
With this deal, it may take a while but we have a lot of acreage and plenty of gas. Triple does the drilling and production, BSP does the sales and distribution. Its a no brainer if BSP can get it to work. They have been buying a lot of distribution networks so essentially a super smart move for the future. In most countries its all about connections. Once the drilling goes well and great pilot well production testing then share price will appreciate a lot. What worries me is:
- how are we going to fund future drilling
- how are we going to fund production
would this be a slow takeover or would BSP be seeking to bring it more investors and selling their shares in blocks? They do own 65% of tnp after all the deals are done. Why would drillers wanna drill for shares unless they see upside to the shares? Surely they get the shares for 0.6cents, what would happen if share prices go to 3cents? Thats a 5 fold return on their initial investment.
TNP Price at posting:
0.6¢ Sentiment: None Disclosure: Held
