RE:JimT - points July 14, 2015, NR:
"Business Plan and Future Path for Americas Petrogas
The closing of the Transaction will enable Americas Petrogas to implement its new business plan. Under its new business plan, the Board is fully committed to and intends to:
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- in conjunction with management, fully assess the exploration and development potential of its retained properties, most notably, Vaca Mahuida, Loma Ranqueles and Totoral, Yerba Buena and Bajada Colorada, with a view of establishing: (1) a low-cost capital investment model capable of being met, given the Company's expected post-Transaction working capital and financial resources; and (2) near term cash flow prospects;
- ......
- accelerate the spin-out of GrowMax as a stand-alone entity for the benefit of existing Americas Petrogas shareholders"
Public_Heel wrote:
“The Transaction has been structured so that Americas Petrogas will retain a number of its high-potential Argentina assets with near-term cash flow prospects ……
The Transaction will enable the Company to focus on several key Argentina oil and gas assets……”
**** Well, they would say that, wouldn't they? Do we really know if the remaining assets
were too good to sell or too bad? The lack of action regarding them has me assuming
the latter, but that's just my assumption.
Since BOE’s original plan was to continue operating as an oil and gas company, the assets left should NOT be marginal.
**** I'm not sure that was BOE's real plan. I think they brought Badwi in the sell off the company.