Post by
maya123ca on Jun 15, 2012 2:43pm
Resource update
Chet told a broker I know to expect the update in Q3. That fits with the definition of "by Q4". A colleague of mine spoke to a fund manager at Sentry Investments and was told that Teranga is in the process of try to raise $200 million to use as part of a buy-out package of cash and stock to take over Oromin. When he asked what price was being mentioned, he said, "$1". Wouldn't that be a kick in the head, especially for Chet since all of his lovely options would be worthless. At this stage I don't care what price someone takes us out at. I just want to get something from my investment and move on.
Comment by
newfie36 on Jun 15, 2012 2:47pm
I am ok for $1 providing they also give some stock to bring it closer to $2 per share in total value. Please Chet get this over with!!!!
Comment by
tony1969 on Jun 15, 2012 3:17pm
Thanks maya. Teranga makes the most sense for the twentieth time. Unless they get outbid we will be theirs before year end. A dollar fifty is probably more like it with both cash and stock. Just my opinion.>
Comment by
hoosier1 on Jun 15, 2012 3:35pm
A $350M sale of OJVG will put most of the long term investors underwater...if OLE sells the OJVG Property for less than $750M then this whole venture was a horrendous failure. OLE, Bendon & Badr could have taken their money and done better in the open market than with this return... actually, anything less than $1B for the property was not worth the effort/risk for the return. h1
Comment by
tony1969 on Jun 15, 2012 3:36pm
Tgz can easily pay $500 million with cash and stock. That equates to about a buck fifty. By the way it is 97 degrees with a feels like of 115 here in Key West. Insane heat>