Bobcat.
Do you mean the funds are committed, if not then the IPO can still be cancelled
If they find significant extensions to the Castor reefs, such that it values it at say $30-50M then it is not commercial to proceed with the IPO valued at <$15M
At these levels Jiangsu could buy them out for $10M, hand pick the geologist team from SOC to keep on and run it as a subsidiary
There is value here somewhere, but it is whether Bergen is happy to wait or can sell lower and still make profit
castor high-grade drilling program, page-16
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