FACT: Money from the Lakes owed to OTE put in trust/escrow until agreement between Sanchez and OTE finalised. This happened (June 30) and will be paid to OTE this quarter.
Buckland what you wrote implied that something dishonest was going on with OTE.
The only dishonest thing going on is your post.
Deliberately misleading people is wrong but it is you and not OTE that is guilty.
It is quite normal for earnings to be kept in trust before complicated deals are finalised. Hard to get the money back if too much is paid. The deal between OTE and Sanchez was complicated. Sanchez bought half the lake and Pyme + OTE owned the company that owned the other (separate) half. Plus there was a complicated option arrangement whereby any party drilling had to give the other a chance to earn 50% interest in their drill. They changed all the previous ownership whereby for each well everyone owned different amounts and replaced it with Sanchez buying Pryme out, becoming operator and OTE getting 20% of everything and Sanchez 80% of everything.
HC should be about constructive criticism and supplying information. Not for misleading down-ramping or up-ramping.
Rumot
OTE Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
