At 75% The JV agreement is still in place. NWE would still be a listed entity. The NWE board will have to abide by rules, and some of the rules are designed to protect minority shareholders. They will need to obtain independent valuations and opinions on any material matters. If they want to delist, they will have to make an application, but they still have to pay you what it is worth...at that time, with the information at hand. And if you have more drill data, then that gets thrown in to the mix. It will be a pain in the backside for them. Many entities will probably pay up to mop up the rest they dont own. If you want to look at process, go look at AWE and follow the sequence mitsui went through. With AWE however - there was no resistance.
All im saying is there is time. The drlling of L2 will go ahead. Hopefully we can also hold out for NED-1. The 3D seismic field acquisition is finished in less than two months.
NWE Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
