BONTAN CORP INC BNTNF

More.

[stockarchangel]

OK, now Mr. Namrodi is in "negotiations" to acquire direct or indirect control, either alone or with others."


Ofer Nimrodi looking to hire Isramco geologist
By Lior Zeno and Michael Rochvarger

Publishing personality Ofer Nimrodi has caught the oil and gas fever, and the only cure is exploration. TheMarker has learned Nimrodi and his partners are in negotiations with geologist Joseph Langotsky, who discovered the offshore Mediterranean gas finds at the Tamar and Dalit drilling sites, to try to have him take the lead in a drilling project for them.

Yesterday, Langotsky said he had not yet made a decision on the matter. Nimrodi is in talks to buy a controlling interest in the Canadian firm PetroMed for about $16 million.

About a month ago another Canadian company, Bontan, said it saw global potential in the Sarah and Mira gas exploration sites, which are adjacent to Tamar and Dalit about 40 kilometers off the Hadera coast.

Yoav Burgan of Leader Capital said Bontan's report on the fields is based on old 2-dimensional surveys rather than a three-dimensional version.

According to the Israeli National Infrastructure Ministry, over 95% of the interest in the Sarah and Mira licenses is held by PetroMed, owned by Hagai and Giora Amir. But a Bontan report from last month asserted Bontan's ownership stake in the licenses, saying its interest in the exploration licenses is through its Israel Petroleum Company subsidiary.

Bontan is claiming a stake of more than 71% in the Sarah and Mira licenses through its 75% interest in Israel Petroleum. The mix of announcements reflects a legal dispute between PetroMed and Bontan. A lawsuit is pending over the issue.

PetroMed claims underwater exploration rights at the Sarah and Mira sites. Nimrodi's investment would cover about $12 million in PetroMed debt and fund a seismic survey in the areas where exploration licenses have been issued. Nimrodi's investor group would include Moshe Hershberg and Levi and Mendel Mochkin, who have been active in oil exploration in Australia, the United States and elsewhere.

TheMarker has learned that DS Apex, which is acting as the investment bank in the deal, is working to bring IDB Development's Modi'in Energy into the project as an investor.

If the parties come to an understanding, Modi'in Energy may invest about $8 million.

Nimrodi's Israel Land Development Corporation advised the Tel Aviv Stock Exchange yesterday it was in talks to acquire direct or indirect control, either alone or with others, of licenses to develop natural gas fields at the Sarah and Mira sites, each of which is 399 square kilometers in area. The company said it would provide a detailed report when negotiations are concluded.

[pavelnedved]

WHAT THE H*** IS GOING ON?THE COMPANY SHOULD STEP IN AND ISSUE A NEWS RELEASE TO CLEAR THINGS UP AND ADVISE SHAREHOLDERS WHAT IS HAPPENING.CAN ANYONE PLEASE PROVIDE PHONE NUMBER FOR IR OF BONTAN?

[hobbes2]

I believe the number is still 416-929-1806. Ask for John. If number is incorrect, call CC, Current Capital I think it stands for. Ask for John. They are the house that promotes the stock. He has well over 2 million shares, and between him, his brother, and family well over 5 million shares. They are not being payed a salery by Bontan, just the shares, so they more than anybody, want to see

[bbmmwwm3]

Publishing personality Ofer Nimrodi has caught the oil and gas fever, and the only cure is exploration. TheMarker has learned Nimrodi and his partners are in negotiations with geologist Joseph Langotsky, who discovered the offshore Mediterranean gas finds at the Tamar and Dalit drilling sites, to try to have him take the lead in a drilling project for them. Yesterday, Langotsky said he had not yet