re: Ann: Dispute affecting interests in permi...
As has been posited from the commencement of Statoil's involvement, and further emphasised in PFC's announcement of January 7th.........
"2014 Work Plan and Budget for the Southern Georgina Basin" This sentence in paragraph #5,is pertinent...
"The Joint Operating Agreement (JOA) among the parties does provide for the potential dilution of Baraka's 25% working interest, should it refuse to pay its cash calls."
Really, it is academic whether or not BKP come up with the cash, they will still have a diluted share, they have repeatedly demonstrated that profitable money management is not one of their talents.. My personal estimate is that if BKP end up with 10%, then they are bloody lucky to retain that portion..
It would be in keeping with BKP Management's oft demonstrated inability to operate neither profitably nor competently, for the benefit of ALL shareholders!! QED..
BKP Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
