You're correct cmonaussie, management will need to provide further information so shareholders can make an informed decision for the EGM.
Will NSE overpay for Atascosa? There is a possibility. However, this negotiation took 2 months and during this period EOG had the 2800bopd flow adjacent to target acreage which would have substantially influenced the total price per acre IMO.
As for why PVA didn't acquire these leases, my suspicion is they didn't consider the acreage as very attractive at the time (April). Perhaps, if the EOG results were available in April 2013 the outcome may have been different.
Nevertheless, anybody check out the course of sales today? Some rather large trades went through. Are all these long termers? Is Buru topping up? Doubtful. No doubt a significant number of holders feel mislead and a lot of BESBS traders would have exited on the Merlinleigh delay. The question is, who was soaking up these shares over the last 2 days?
NSE Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
