RE: Buyout or merger Well where to start Mr cleverrox.
Some would say read the board others would say read the web site including all of the press releases but
I will be a good guy and you can buy me a beer at the AGM OK
Sun Trust and Western are Nigerian companys that qualified under the "maginal field/indiginous" program
for rights to take over un used feild. UMU used to belong to a Euro Oil company but they never produced anything and lost it.
So along comes Mart thinking there is oil at UMU and they begin to work with Sun and Western who are
sucessful in getting rights to UMU. Mart is the technical partner with the drilling rig and the ability to raise capital and some good Geo knowledge, so they strike an arrangement where by Mart gets 50% of the
oil and recovery of all drilling, geo, plant and infrastucture costs off the top in oil.
So away they go, Mart does a good job, drills wells, finds oil, oil is pumping and Sun and Western are happy - the most succesful marginal/indiginous program in Nigeria, In fact most have done nothing and only dream of a partner like Mart and a concession like UMU.
So to your comment Mart and Sun/Western get along everybody does there part and most importantly they are making money and how to make more money - merge and a year after the new pipeline is running sell the new merged company producing lots that owns a concession and qualifies as a margina/indiginous producer. This has value and good employees (the Mart guys the boots on the ground.
The bottom line with Mart with out their partners has nothing and the partners have nothing without Mart sort of.
There are a lot of big shareholders who even post here they support a merger or it wouldnt be happening and they would not still be holding the stock.
As always in business whats the exit strategy