I see there are a few XCD shareholders that are resentful about this 'merger' by share swap.
Ummm. Well, there are quite a few 88E shareholders not happy about this unexpected share grab and dilution.
But we should not argue between each other.
The 'deal' was put together by XCD and 88E Director / Shareholders.
So far, 88E shareholders have not had a say on this merger.
I do not know if we will get a vote on the final paperwork before signing.
But XCD shareholders get a vote, yes?
Is it true, there are enough XCD shareholders already agreeing?
So you will be out voted by XCD shareholders, not 88E shareholders.
Stop moaning at us (I am 88E shareholder, XCD is not UK listed)
A further note.
When BP was born, it took 7 failed drills before finding oil with the 8th.
88E have had 3 drills on the Central North Slopes, and
1 drill not far from you XCD guys.
That last drill was not dry, it was very wet, as in water logged.
A consortium of West Perth companies with no shareholder sounding out.
Rumours of another type of leak from one of those Aussie companies.
Major complaints from 88E shareholders.
My view today?
This can come good for 88E and XCD.
Our MD is good at arranging FO Deals.
88E has a massive DataBase of the regions geology.
We should be very near to a decent oil strike.
XCD Directors, apparently, claim 2 good places for oil drill.
Together we should be able to present this to Production company's to secure an FO deal.
We just need one decent oil strike anywhere in our joint regions, and the new group will take off.
If 88E, BEX and 88E are not able to manage this, and soon, then we will all fall down a black hole.
Phrontist
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