Interesting connection isn’t it. May be reading too much into things but if you were a private equity firm sitting on what you believed to be a serious oil prospect, what’s the best way to drill it without losing ownership and simultaneously dishing off some of the cost - use a publicly listed company with a director who has one foot in each camp - and allow said company to acquire 20% of the project purely through scrip.
Skye essentially owns 80% of the project and 45million TMK shares (plus an additional 45million should the independent estimate return >120million boe). Essentially they still control the project and TMK becomes a lucrative conduit to realising drilling potential.
All in my opinion only.
TMK Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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