Don’t think we’re seriously looking at RSL - it is an all but dormant Uranium/Rare earths explorer with 460k cash to its name.
Perhaps there is some confusion with Raisama (formerly RAI now Peak Oil and Gas PKO). However PKO is just in the process of merging with OXX . Five mill mc merging with 27m mc. 200k cash + 8.5m cash. Many exploration permits. Combined operating income zip. Cadlao, by the way, still looks a mess. I don’t think that’s our deal
I tend to go with the merger suggestion rather than anything else. Phil was quoted in one interview last year as saying the time was ripe for some rationalisation in the sub 100m mc part of the market. I would guess this has been in the wings for some time waiting on a result from Baragatan (there wouldn’t have been many takers for a deal with an unvalued potential upside during the run up to Bara). Timing is everything.
I can’t see any other listed oilers in TH for a pending corporate transaction either yesterday or today. It leads me to me think about possibilities for action with a private entity or a party from another jurisdiction (Thailand?).
NDO Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
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