Post by
renoit7 on Nov 19, 2012 9:40am
I spoke with Sean
Friday morning I talked with Kehoe and this is what I was able to get from him; they did receive quite a few offers, some for land, some for production, and some for the whole thing. He said that he could have had the company sold a few times but he won't accept a deal until he is able to see cash in an account because he knows how bad it would be if a deal was announced and then fell through. Also, a lot of companies are having trouble acquiring financing (which I had heard from a few different companies), so the larger companies that have the money (ie, Legacy) are really low balling. He said that one company had told him they would have their money together and in an account by end of the day Friday, it sounded like that was a small land deal though. Sean said that he received a call from a broker earlier on in the week and he was not too happy with where the current stock price had sunk too. I could tell from talking to him that he's been getting a ton of heat from a bunch of different directions. He told me to expect a news release this week with an update on how the negotiations are going, that alone will help the share price. I'm still expecting Legacy to buy Pierson, with a number of different transactions involved to sell the remaining assets.
Comment by
investeur2 on Nov 26, 2012 12:38pm
The saying: Fool me once, shame on you, fool me twice, shame on me, may be appropriate here.
Comment by
renoit7 on Nov 26, 2012 1:22pm
You might be right. I have left a message for Sean to call me. If he can't release anything that's fine, as long as that is what he says, if he says he'll do something and then doesn't do it then I may have to call BS. Our next conversation will not be as cordial as the ones in the past, but I'll let you know what he says.