"intersting" journalism. . . . .
Epangelo have been in talks with Extract for 10%, and also with CGNPC for 10%.
The journalist refers to the talks with CGNPC as an "additional" 10% over and above the portion being discussed with EXT. This is the first I've heard of the talks in this context.
CGNPC don't yet have the equity to provide to Epangelo.
If they take over KAH and EXT; I guess it could become 20%, but so long as CGNPC don't own the company, I can hardly see EXT (or anyone else) allowing 20% slip away unless the price is a premium.
Given Epangelo have very shallow pockets (as far as I can tell) could they afford this? Will they be looking to acquire 100% if they hold "10% talks" with another 8 parties?
"intersting" journalism. . . . . Epangelo have been in talks...
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