TORO OIL AND GAS LTD V.TOO

Inside the black box, the 4 cent jump means

[pullsee7]

the Transaction must be assured to be in place by month end. Right? That starts the reincarnation of KEC.

[mjh9413]

If you mean by 'assured;'; that KEC deliver the defined written consent OR the new team waive that requirement if not met, you are correct. That is the one thing that kept me out of this becaue it acts as a right to terminate without penalty if not delivered and not waived. Did the sp action mean it IS going to be met??? da! dah!

[pullsee7]

You are right; that's what I meant.   Let's see how the market, so, behave today.  Glta.

[pullsee7]

Well, to follow up, I called and left a message at the Kallisto office enquiring on the status of obtaining the written resolution which was expected by September 30.  It's been about two hours.  So far, no response.  Will have to wait.

[mjh9413]

Well, I cud never see how 12.9%  holders wud get a 50% Written Consent, particulalry in that time frame but it cud surely have not have been a HOPELESS objective. The purpose is to get an earlier effective t/o by a month or so. Sure I have not seen this before. The actual agreement does not even specify a waiver if not obtained, at least the way I read it. GL

[pullsee7]

see today's announcement saying they got it done. Great news, I think. Am also glad to see the old management booted out. Those guys never responded to phone call enquiries. Good riddens.

[perdikaoilgas]

Yes, they never replied to my continued emails. I wonder why they stayed for so long. Never helped the company.

[perdikaoilgas]

Hopefully, the new management team can find some money during this difficult period for the energy stocks. SOG made a good financing a few days ago. This is what KEC needs too.

[perdikaoilgas]

Alternatively, they can merge KEC with another company same like BBI and Pennant did recently.