OTP from memory 11.8 million shares between Lake [ 5 million ] and Scott [ 6.8 million ]. I think Scott was supposed to collect 250k from back costs, max or 10% as well as $75k for class A and $75 K for class B. Total for Scott on binding farm in completion at todays sp of .17c is ~ $1.556 million, Lake $850k. One of 2 things has to happen. Either they come to shareholders to have a meeting to change the performance rights prior to June 30 or the farm in happens. I think the farm in will happen personally and could come at any time IMO. The only hurdle left for the vesting of the performance rights is the binding farm in which has to be done in next 9 weeks. What's going to happen? If its a farm in the deal will be being done if not completed already as it would require government approval under the PEDPA IMO. The Senegal oil code requires 60 days for any objections to a new party farming in.... so IF the PEDPA has a similar set of rules the farm in might need to be announced very very soon as it wouldn't be binding before government approval, but I don't know the detail of the PEDPA, could be completely different.
IVZ Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
