Haha. Put option dependent on whether other JV partners can PE. No valid transaction, no change of control, no more PE etc. Now that would twist a few brains.
The forum is finally starting to get what this transaction is about in the sense of what is being bought and sold and who ends up with what. Hot's posts make perfect sense regarding the PE situation, but could still be barking up the wrong tree. I think he/she has pretty much nailed it. Only downside is there probably won't be any drilling for a while.
For me proving up more oil / connectivity and conversion to 2p is the real game. This opens up all the avenues to finance which is desperately needed and of course increases value. Can't keep on CAP raising. But if a decent return comes from any PE, great. The question there is if the 15% gets "sucked up" what form will that take, takeover or asset sale?
DYOR IMO Etc
Haha. Put option dependent on whether other JV partners can PE....
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