RE: RE: Lfd+vst I believe this business regarding the vulture fund to be true also with respect to LFD and would rate the chances of them having LFD come in with a financial infusion as very low also, but there is still a slight possibility there. More likely VST will work out some other sort of deal with Niko or be bought out before the next drilling round.
We do know that Niko has slotted the next drill to occur in the North West of the block to commence sometime in late September early October. (Thanks Bobby...) I think it will be an interesting 3 or 4 months ahead seeing if VST can scramble for more cash and/or a farm out or joint venture to hang on for the ride. I'm crossing my fingers that they can hang on for a small interest because if this one hits we will be looking at a completely different scenario, although this would definitely be their one last "Hail Mary kick at the can".
Admittedly in light of what happenned with LFD, the more likely scenario is that they will be taken out, but even at that, hopefully it will be for a reasonably good valuation. If other suitors don't come forward I also won't be at all surprised if NIKO simply buys them out on a similar basis to the earlier deal where they "helped" finance the drilling of the last effort but this time with a bit more of a premium. My only difference with you Swisstime here is that if this happens, I think it will be a valuation which will fall squarely in the 25 to 50 cents range. Not the best news in the world but not the worst possible situation either. Am I dreaming in technicolour and 3d, perhaps, but if you stop to think about all the work that has gone into developing this property there has to be a little bit of value added here or at least one would certainly think so. The question is whether they have anything left to bargain with and that will depend on whether they can round up some interest in the Quara Dagh property with some outsiders. I am willing to bet you a dollar to a doughnut that Genel has been approached on this one and may be considering it, because in the total scheme of things, for them it is but a pittance, yet has a potential multi, multi million dollar pay off if successful. Don't kid yourself, Haywood and Co. are mulling it over or perhaps have already mulled it over, as well as others and a decision is most likely imminent. If we are extremely fortunate a small but intense bidding war may breakout and that would be the best thing we could hope for in the short term. We will soon see, hang in there and cross your fingers.