"Although perhaps he had been wanting to stump up the money but ESG did not want this to happen short-term as they wanted to re-acquire the business."
JT,
Talking to Barry Smith those couple of weeks ago, I got the impression that it was his camp that did not want to go it alone with Toenda 1 and spend the cash. Earlier this year it wasn't the right climate to be taking those financial risks, but he was coming around if a farmin partner could not be found for the right deal. It is a moot point now.
I think another issue here may have been ESG/I&S wanting OIP to focus on CSG rather than its oil plays. Whether that be the leases that that have already been farmed out to ESG or others like PEL455 that had its CSG rights retained by OIP. Barry started talking about CSG first, rather than Toenda 1 and talked up the CSG finds made on the other side of the border.
Dont know how the options would fare at a deal worth 25c. I'm gathering you have mostly oppies?
Hardmano,
You make a good point about the detail later at the AGM rather than now. For me that screams that a takeover or consolidation is in the pipeline and will need a month, month and a half to prepare. I'm excited! I dudded us with the 5:1 call, price just went up to 4:1 script deal with ESG and .....
Go the EELs!
OIP Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
