SwissTime It is unrealistic for you to expect the billionaires that run FORBES and George Soros to eaise $10 million for drilling. Have you wondered why VST has not been able to close only $5 million since October 2011? The billionaires that you mentioned are also shareholders of VST.
The simply truth is that GENEL wants full 60% stake of Chia and they would get it either through negotiation or through other means.
LFD does not have the financial muscle to drill two wells when they are responsible for 75% of the costs. As such, their best strategy is to either merge or sell. If they merge, you still have a stake in CHIA but you would be protected with the financial strenght of GENEL.
To be realistic, LFD shareholders should thank their starts that GENEL stepped in and showed interest. if you remember, the stock was heading to 2 cents because GENEL's announcement.
The clowns Management orthe so called billionaires even tried to massively dilute the shares by more than 40% in summer last year at 20 cents before the regulators said NO to it. These guys are ruthless and must never be trusted. The only light shining on LFD rigt now and holding the share price is his intervention by GENEL and if the blew it, they are doomed because the share price would sink back to 5 cents. This is a fact!!!
So every LFD shareholder must hope that the clowns merge with GENEL or sell to GENEL and move on. If you like, you can take your cash and invest in other KRG players. For me, I will never invest in oil & gas company run by these people at FORBES.