Guys, there has been wayyyyy to much made of the JV.
As i always said, the JV is about aligning for the future and opening up relationships with industry players & financial backers so they can enter new markets and acquire new oil & gas leases.
It was a good thing.
You watch em pick up multiple new O&G leases over the next 6 months.
Ring the company and you'll find out that there NOT interested in becoming a $100-$200mn mkt cap company. Their looking at becoming a HDR - a Hardman. A $1bn oil company over the medium term with multiple producing assets across multiple countries.
This JV just shores up: a) funding for current lease b) financial relations with a HK inv bank so that have financial backers on the go when they find new leases that they are ready to pick up.
WAY OVERSOLD and on a technical level, has again bounced off 2cents again
Cheer!
MHL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
