Post by
mjh9413 on Jun 03, 2013 2:21pm
Do they have equity in OLE?
Do they have a vote? Think not, at least in terms of OLE shareholdings. Initially the Saudi's were meant to take an 'equity interest' by donating $3MM as seed money but I do not believe it was equity in OLE. Same with BADR. I guess that is a question as I have never been certain about it and, as stated, have never found the JV Agreement anywhere to really see. ???
Comment by
Goldfather on Jun 03, 2013 2:34pm
MJ... fyi... bendon was to pay 50% of production costs, which i believe are around $157 mil. Thats nearly $75 mil , and they have seperate 43.5% ownshp, and badr was a 13% carried interest. Tg's Offer will deal seperately w/ these two...... all this stuff is in the Ole archives and on theyre WS