another thing I thought of is this . Back in the day before I...

First 27 Last

Share
Profile

Follow
occam

5,096 Posts.

1140

31/12/22

16:41

Post #: 65490222
Share

Originally posted by occam: ↑

I wish those were the only two options . Forgive my pessimism but I have been in this stock too long . I got out during the year , only to get back in at 11 or 12 cents . Regretted it ever since .
I am still at a loss as to why ORG did not approve the work program and budget , after all they did have money, so I assume that the pre takeover offer talks with Brookfield might have had something to do with it. Especially since ORG stated it’s intention to sell its 50% in our permits including Raffa , and yet nothing has transpired . Brookfield may have wanted ORG to hang on to Raffa until they could sort out what they were going to do with it , sell it or flip it to their LNG specialist sidekick . If and when this is all sorted out , I still don’t expect a quick resolution. Having said this , Mr Nador is doing his best to put us on the front line of the grid so we can be ready to move if and when the opportunity arises.

Expand

another thing I thought of is this . Back in the day before I retired , a few smart companies included a clause in their JOA’s under the preemtive rights provisions that triggered preemptive rights in the event of a change of ownership . If Eric had/has done this and Brookfield is successful in its offer for ORG , then we could force ORG/Brookfield to disclose a value that they put on Raffa and preempt the offer. Personally , I doubt whether Eric would have included such a provision , after all he was old school , and we already know that he didn’t have any language in the farmout agreement with ORG that required them to appraise Raffa or any discovery in a timely manner. I hope Mr Nador is able to play a smarter game. This is a big boys game and needs big boy thinking .

BRU Price at posting: 9.5¢ Sentiment: Hold Disclosure: Held
15 Upvote

4 Great analysis

Reply