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Ann: Odin field starts gas supply, page-52

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ggwill

2,813 Posts.

647

01/10/23

21:57

Post #: 70122187
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Originally posted by FoundWanting: ↑

As a non-expert I can't say where management have made any unforced errors, to me it seems that the risky nature of exploration was exacerbated by heavy rain. Had we been able to stick to our original timeframes I was always an advocate for absorbing MEL as I don't see what they bring to the table.

As the situation is now though we could either spend the ~12million to put an offer for MEL, or we could spend that drilling Odin-2,3,4,9

Yes the parasite survives, but the host thrives.

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Hi Foundwanting, VEN does not need to pay cash to purchase MEL. VEN can just issue shares (script offer) and give them to MEL holders. If VEN controls 75% of the assets, it would reduce the cost per GJ of gas produced. It can benefit both MEL and VEN holders if the offer is reasonable.

VEN Price at posting: 3.1¢ Sentiment: Hold Disclosure: Held
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