RE:RE:Party's OverAsdfghjk writes: My bet is the JV fell apart and they're dead in the water.
Well look at it this way.
Market cap of whole company is 12 million.
Val Marie has one well but it has not been tested. They have similar untested well at Ogema prospect. They have shallow wells at Climax and the deep Nazare zone there of great promise. They have more propects including cadillac that is quite promising. Then they have Steveville wells producing and also the promising forty mile prospect that they are supposedly drilling.
If you were Sparrowhawk CFO (or the CEO) would you allow your company to pay 25 million in cash for half of the unproven Val Marie prospect with one untested well. That might be your last chance to do that kind of work.
Just my take on it. They originally thought the deal would be signed off in a month or two. Mor etime than that has passed.