Verisante Technology Inc V.VER

RE: The Way I See Things Unfolding

[Naamkat]

Fatbirds:

You posted:

"If the JV partner is Vecta Oil and VER does get the financing I feel it will be a 50/50 deal. This is where the financing comes in. They will hire their own rigs and Vecta Oil will do some of the seismic work and other technical work. I am thinking the VER will have 50% ownership and nothing less."

I think that your comments about who does what are logical.  As for the WI, I believe that VER will need a significant share to ensure they can raise funds, but have seen other micros mucking about (BOG, Kallisto, Sea Dragon to name a few) well below 50% to get started.  I would agree that they couldn't end up with less than 25% to be able to raise funds.  But 50% would be a gift if this play is the real McCoy.  The wild card is whether the guys with the land end up with a considerable shareholding in VER on top of the drilling capital.  That could make VER more financible but at the cost of greater dilution.  Probably still the right thing to do vs. dying.

Regards,
Keith (oops, now I've done it!!!!) 

P.S. Perhaps you would indulge me by sending prospect 93 an email detailing how many years Mr. Schaeffer would have been hiding in the Kroes/Vecta weeds to pull off the facade he contends.  TIA

P.P.S.  Prospect, I've read some of Mr. Schaeffer's comments on other plays like Bellatrix.  I wouldn't pay 2 cents for his "analysis."  Never the ignominy of being taken for him.   If that doesn't work for you, I'll just start calling myself him till it gets his attention and he sues you for slander (b/c while I just said some things that were impolite, they were only that whereas you are accusing him of manipulating a stock price and that's illegal).