The Company needed a shareholder on side to make sure no one could push anybody out. Well now the latest deal fixed that. A dream deal for Magellan but horrible for us. We just took on too much risk for just a 19%IRR. We have so many hurdles to get over to get Dingo into Production that one big mistake and we could be history.
REMEMBER, THE LAST WELL DRILLED INTO PALM VALLEY WAS A FIZZER AND COST ABOUT $20 MILLION FOR THE DRY HOLE. CAN WE AFFORD THAT?
CTP Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
