GREY:SMBZF - Post by User
Comment by
stjjmacon Sep 19, 2017 4:49pm
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Post# 26716249
RE:RE:Better not
RE:RE:Better not LouisWinthorpeIII wrote: why would they attempt a takeover-buyout before drilling?
Well according to the press release on the joint venture, Essel were supposed to invest $100 million to earn their farm in. You could probably buy Simba for less than $100 million and get 100%.
i am beginning to wonder whether Simba had a lawyer look at the farm-in. Essel were supposed to spend the $ and drill within 18 months. I wonder what the actual deal states. Did Simba specify any deadlines - it appears not.
we clearly cannot trust Essel. I was looking at an old press release from Aug 2016 which states Essel had purchased a rig.
.20 cents or .30 cents would be a shame. I think we are all here for a lot bigger prize.
the inability to share the Sproule report is completely unacceptable. This is material news that should be released publicly.