re: Ann: Letter Of Intent Executed for Pathfi...
All vaild points, Sharejon
The scenario I had in mind was a senior middle management type in a resources behemoth who has underspent his FY13 exploration/business development and with time running out wants to use up his underspend so that his FY14 budget won't be reduced. A commitment of only $12m is not going to raise many eyebrows in an organisation of that size which has already publicly committed to spend $1-1.5bn on the Niobrara anyway. But he still needs 60-90 days not so much for further "due diligence" (I mean how much more information to pore over on Pathfinder can there really be?) but more likely to get the deal ratified through all the different layers of internal bureaucracy that apply in those kinds of organisations.
Just a little exercise in imagination on my part but then I did say it was a wild punt. Could be anyone really - anyone with a lazy $12m to spare.
AKK Price at posting:
1.4¢ Sentiment: LT Buy Disclosure: Held
