RE: RE: Private Placement - CLOSEDTommer,
With respect, the discovery is four years old. Not to single you out, but you've been calling this a company maker since it was $2.72 post-consolidation equivalent. (Oh, I forgot, but for awhile the Gulf was the company maker and, before that, Cooke...on and on).
There was an NR from late 2006 or early 2007 that there was an agreement for New Scotland was to be taken out. Never happened. All these wonderful so-called binding agreements which keep ceasing to exist every few months. And then the wait starts again. Then the working interest magically morphed into a revenue interest, though we were advised long after the fact, and there still is some doubt as to what Maxim's interest is. Of course, this whole ongoing problem with Jasmin was never disclosed until long after the fact.
And then the PR. What about the Richmond Club audio interview about production starting within days, and then the long trading halt immediately hit, and no production. Before that, the Richmond Club video that debt financing would be in place. And last year, everyone was being told the deal is done, imminent, a happy Christmas for all, blah, blah, yadda, yadda. Tonnes of other similar instances.
To be fair, some stuff was course not the company's fault. Trinidad is known for delays in environmental approvals, and the hurricane hit the HI well infrastructure. However, even then, we never received upfront accurate information about what was going on. It was a PBR release which described what happened to High Island. (With respect to HI, given my time in PBR, I know that is a liability which just keeps on growing, and growing, and growing. Those creditors might just start salivating if Maxim gets some money).
Also, there were major pros who put money in before in other PPs, at much higher prices than here, in anticipation of Trinidad success which never materialized.
Don't take my word for it. I invite anyone reading this, and who is confused, to take a few hours looking over old stockhouse posts, old Sedar filings, old NRs, etc.
Maxim: the delay that never ends.