Please see previous post for the deal
It was about starting a major project (game changer, worth more than $10mil) in a non US country similar to the one implied by the Nigerian Loi. They do not need to have started the drill - actually drill may have already been done if a marginal field awaiting development. Just done the deal.
The time period is six months from today
As for me I put my money where my mouth is
I recently took three cash advances on my credit card to buy more OTE
At .4 .4 and .3. 1 million shares each
I sold the .3 at .3 and worked a second job over Christmas to pay off the .4s. Meant I missed seeing my kids this Xmas.
I have no more money to invest but do think .2 is a good buy if you think Nigeria will go ahead. I could do another cash advance on my credit card but am trying to start my own biotech and need to be more careful at the moment. Actually was hoping my stocks would help with this but all are early companies taking years longer than expected to deliver.
If nothing goes ahead (ie if you win) then there will be no good news and OTE will slide to .1. So in that case I would sell now at .2.
I am holding my remaining stock as I think Barnaby is likely to pull of a deal
Rumot
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