RE: UNX - still scratching my headAccording to PR April 22 from UNX
"The additional 70% will cost the Company $5,000,000 and considerationwill be cash of $1,500,000 and shares for the balance. The Company hasuntil September 15, 2008 to exercise this option."
https://biz.yahoo.com/ccn/080422/200804220456749001.html?.v=1
And the final deal became
"The total cost of the 3 options is $5.6 million US and the Company willpay consideration as follows; $1.5 million US cash, incur $2 million USin work expenditures, issue three million common shares in the capitalof the Company at a deemed price of $0.70 US per share and issue threemillion common share purchase warrants (the "Warrants"). Each Warrantentitles the holder thereof to acquire one (1) common share in thecapital of the Company at an exercise price of $0.70 per share at anytime until January 17, 2010."
If we would see the SP skyrocketing when Kunene is finished that would surely be a huge win for Mr Katti, but
I don't think it was up to Mr Katti to decide whether or not UNX could exercise their optionthis early
. If Kunene is a pig, then UNX will get the block 2713A&B really cheap since the the warrants most likely will become worthless...
On the other hand, I really think that it would be wise of UNX to have a more than good relation with Mr Katti and his connections to certain people in Nambia (Mulanga) in the case of a hit. I think Mr Katti could help them get more deals done in the country if it proves that they have oil/gas fields in which UNX would like to invest. Giving Mr Katti a more than fair exercise price would be way better than using bribes IMO.
About "talks about oil in Walvis bay", I still have not been able to verify that information, but as it seems the gas beeing found earlier on was not just gas, but wet gas. And yes, Sintez in Moscow yesterday confirmed that they have stopped drilling at 5060 meters and that they now are logging/testing the well. Although I need to point out that Sintez have given us missleading information before....
All the best from Swe