Plus you couldn't secure $90mil against Trinidad because as it...

Plus you couldn't secure $90mil against Trinidad because as it stands it is worth less. We a paying a small premium knowing that we can get more out of it.


We wouldn't be getting the 90 mill if it was worthless

I remember reading that the current owners are old and have not been bothered as i also believe one is very ill

Also the 90 mill is to buy it, then where does the money come from to ramp up production?

What is the point of doing a cap raising with more dilution when the SP is sitting @ .004

they need to find a way to get the SP up to 3-5 cents before a cap raise and consolidation

My thoughts are they will need to be borrowing around the 120 mill mark, ramp up production immediately, with all monies generated promised to the investment bank from the word go

what they are buying is not like any other spec oilers that have to BOOK and WAIT for a drill rig, i think we have 6 of them and a bunch of Mexicans to get them going once funds are in place.

MHL's main aim will be to get to the mentioned 3000 bopd ASAP to start servicing the loan this would certainly get the SP to where it needs to be for a cap raising with again all funds raised sent to the investment bank

then the SP consolidation with the "what ever number of shares" going to the bank once the oppies are either across the line or forfeited

Just seems an easier way to do it as mentioned because its only six months of normal trading, which gives the company the time to get the BOPD up to where it needs to be to put into place what i hope will be an oversubscribed cap raising. i also think that all monies from the cp will be offered to the bank to reduce the size of the loan