GREY:ROAOF - Post by User
Post by
OPFundon Mar 25, 2009 1:20pm
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Post# 15869759
Rational
RationalNotice that news release came not from Oilexco but from E&Y.
This is a normal procedure for E&Y. They got the bids on march 6, Premier was highest bidder and therefor Premier gets ONSL.
On the other side Oilexco and Creditors have 28 days to agree on a sale. This is very unlikely since Oliexco will not agree to these terms and I believe a dog Art must have something in his sleeves because why venture would let them to trade and why would there be shareholders meeting.
Another reason i dont think this will go through, because with this deal RBS is loosing as well. There are no dumb fucks at RBS they understand that if they keep funding Oilexco they will eventually get the money back. The only one reason for RBS to proceed with the sale of ONSL is pressure for liquidity and will take any money at this time.
OP