GREY:OLEPF - Post by User
Comment by
hoosier1on Oct 06, 2012 5:51pm
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Post# 20457586
RE: Thanks adit123, I try and come up....
RE: Thanks adit123, I try and come up.... tony
Re Badr (& Bendon for that fact), you are not correct in saying they have been diluted.
The issuing of shares is only an Oromin Exploration issue/phenomenon. Only we shareholders of the company OLE are diluted... OLE & Bendon always hold 43.5% and Badr always holds 13% of OJVG
The only dilution for Bendon & Badr come from the Senegalese govt getting their 10%
Also, Badr is/was never to contribute beyond the initial investment thus they only got 13%. OLE & Bendon were equal contributors to the costs thus 43.5% each. There has never been a PR about Bendon no longer contributing, nor any PR about a change in % for stopping cost contributions... only our supposition from seeing that they have not continued to pay their 50% from the Q FinStatements
h1