I'll admit my 'greenness' with this upfront but from what I've seen I'm wondering if it could be Moby by any chance?
Basing this on an excerpt from http://tradingroom.com.au/apps/view_article.ac?articleId=760656
"Under the deal, Moby would acquire Rankin by issuing 120 million shares, to be held in escrow for 12 months, to Gascorp.
The deal is conditional on MEO providing Rankin an irrevocable binding commitment to drill a well at WA-360-P on or before December 31, and getting necessary regulatory approvals."
It also goes on to state that Moby is getting independent reports and no further comments etc.
So isnt it in Mobys best interests to make sure that well is drilled or their deal with Gascorp is off?
MEO Price at posting:
63.0¢ Sentiment: Hold Disclosure: Held