shady business?, page-3

hey polycephalus (= many heads ; ??? many hat too!!!)

Please don't confuse Seypec with Seyco
Yes David and Mark are brothers...old news and not a secret and nothing going on!!!
Petroquest aquired the Seychelles acreage from the Seychelles Government via Seypec (Seychelles Government petroleum company)..Petroquest sold the Seychelles acreage to Seyco (Australian private company) for a truck load of Seyco shares and minor cash (about $2m) (compare with Black Marlin which was bought by Afren for $110m ; NB : SEYPEC (SEYCHELLES GOVERNMENT PETROLEUM COMPANY) BOUGHT 10% OF BLACK MARLIN FOR $6M PRIOR TO THE AFREN DEAL)
Then Seyco on-sold the Seychelle acreage to WHN a for truck load of shares and minor money!!! WHN was already set up to be the ultimate recipient of the Seychelles acreage all along...as it was on the brink of going "belly up." So the new WHN used the shell of the old WHN to get an early, cost effective, ASX listng of Seyco!!! CAPICHE!!!

MY ONLY POINT WAS ...IF BLACK MARLIN GETS $6M FROM SEYPEC FOR 10% OF THEIR COMPANY...AND THEIR ONLY ASSET IS HALF THE SIZE OF OUR MAJOR ASSET...THEN 10% OF OUR COMPANY COULD BE WORTH $12M TO SEYPEC!!!

NOW IF WHN NEEDS TO RAISE CAPITAL...THEY WOULD GET $12m FOR ONLY 10% OF THEIR SHARES...THAT IS ABOUT 12C A SHARE!!!

SO...WE DON'T WANT TO SELL WHN (THE WHOLE COMPANY)...WE JUST WANT TO RAISE A LITTLE CAPTAL TO PAY FOR THE EXPECTED COSTS OF A COMPLETELY STANDARD PROCESS WHEREBY WE UNLOCK THE REAL ASSETS AND WEALTH OF WHN...THE MULTI-BILLION BARREL OIL WELLS!!!

SO...NO PAIN NO GAIN!!!

NOW COMPARE MY IDEA WITH GEORGE'S SO CALLED 2.5c CAPITAL RAISNG THAT HE SUPPOSEDLY HEARD ABOUT...WHICH WOULD YOU CHOOSE??...2.5c OR 12c...YOR CHOICE!!!

Cheers