I emailed Stellar some weeks ago asking if there was an appetite for a farm out and the answer came back, "in a word YES"
Obviously they could not say any more and I have since sent an email two weeks ago to both the company and Stellar without reply
My take is that there are discussions, with a "select number of companies" (as per the structured process). Stellar website says a typical deal takes 17-18 weeks to close and we are in 17th week ish
It maybe that some companies, are talking between themselves as well, to come to a deal
It would make sense to buy out GBP and two large interested parties share the asset and related costs
A major would not take on less than 40% interest and normally 50% as operator and share the rest of the costs with another well heald partner
Not point messing around, sharing with a micro cap
Take out price of 8-10p (sterling) is my prediction .......which would see a five fold increase from here
GBP Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
