RESERVOIR MINERALS INC V.RMC

New Shareholders

[rob926]

If the new share offering closes tomorrow will they announce the new shareholders? They would have to if any one of them is holding more than 5% of the stock. I hope they are strategic and not just institutional investors that should have had to buy in the open market.

[rodneyc]

I thought they would only have to disclose shareholders at 10% or above? Are you sure about 5%?

[rob926]

Canadian reporting might be different but US is 5%. I looked online but it was not easily found. Anyone else have any experience in canadain filling requirements?

[rodneyc]

It's 10% in Canada. I will provide a source tomorrow.

[biggreek]

no mention of any large new shareholders, but you might want to check Canadian insider in a few days, just in case, also Freeport bid $850 million on oil lease's  in the Gulf of mexico today

[thorgb1]

Incorrect. Freeport's bids on the Gulf oil leases were ~$320M. The total of all bids was $~850M. TGB

[biggreek]

I stand corrected

[cd673]

The non brokered deal does not appear to have closed yet. Paperwork or negotiations must have delayed it. Or maybe it is changing. In any case freeports continued investment in oil and gas is entirely predictable and more evidence of why I don't think they will ever buy RMC. They have billions of debt to pay off, are focused elsewhere, and have a track record of buying assets cheaply which RMC