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Message: NOT OVER YET M1

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winchelsea

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NOT OVER YET M1

posted on Mar 26, 09 12:16PM

For me, I always thought the first nr would be a major bought Onsl assets followed later by a second nr that Bidco got their deal.

In that order because Oilexco does have a first right on the sale of some Onsl assets. And that is a big part of why the Premier deal is not so clear cut and finally, with only a 5 million break up fee.

As a matter of fact, come to think of it, the first right issue may have done two things. One caused low bids knowing you may not get all the right assets. And two, is Art's ace in the hole. Which is how E&Y resolved with Oilexco who owns what. So this would make sense as to why the sp hasn't gone to zero, and Oilexco got a listing on the venture.

I guess we'll soon know. GLTA Chuck

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