I read the report when it came out and read it again today before I made a comment.
It says nothing except "Wait and see" to my non legal eye.
"Company?s legal advice is that this purported notice is not a valid or effective notice under the Agreement, and has no impact or effect on Entek?s continuing rights. Entek confirms that it has so advised NFE."
So the MOU has no effect on the existing JV and perhaps maybe challenged?
To me it is a stalling tactic to gain some time to perhps make a decision or raise funds.
interesting times. Oil prices rising and gas prices
"the Henry Hub spot price increased just $0.04 to $3.85 per million Btu (MMBtu)."
Source, week ending 16th March:
http://tonto.eia.doe.gov/oog/info/ngw/ngupdate.asp
worth putting that website in your favourites.
Add to My Watchlist
What is My Watchlist?