yes, spoke to a director...........as you know, its important to keep things in perspective, and directors cannot give too much away..........anyway, just in point form.........
*they have had several offers, but were not on good terms........one was very close, however, it was a chance meeting with the Transcontinental guys that changed things.
* Transcontinental are not underwriting, but are supportive, and may introduce deals......they dont get paid until a deal is struck........also they are assuming some admin responsibilities.
* (imo).... a good move to have Trevisan on board ( a wealthy family, who wouldnt be here for fun)....
* a good chance Transcon could introduce new blood to the register
* they have an improved outlook on O&G, but, thats not to say that will be the path they take
* the Jimbolia tenement is basically to keep the company on deck
* creditors...........minimal, pretty much debt free following the sale of assets, but with a minor adjustment to keep Jimbolia
* holders who wish to go for extra in the CR will be looked after, it could be likely some larger, or tired holders wont play, and the board is keen to give holders a fair crack...........
* no deal is imminent as yet (and i wouldnt expect anyone to spill the beans anyway)
* (just my thoughts)....recent big sales seem to indicate someone was getting set, via a Nominee company with Morgan Financial
* for me..........i took a punt, buying since January, to the point of being a T20.......i have sold a few, but will be taking my share of the CR, and most likely asking for more........at 6c, it will be peachy keen buying, still a super tight shell, and with a good mob looking after it, i am confident they will find a deal...........they did ok with RGU recently, BMG may be a bit harder due to its debt, whereas ZTA is a clean slate.
all these things are risky of course, but i have put more conviction into this one than any other play i have had..........of course....DYOR
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