Project status update - Acquisition of indirect interest in OML 18
Further to the announcement on 11 August 2016, the Company announces that it continues to progress with the acquisition of an indirect interest in OML 18, a producing onshore Oil field located in the Southern Niger Delta (the "Transaction"). The Company is in the final stages of obtaining all necessary regulatory approvals before publishing an AIM Admission Document which will contain full details of the Transaction. The Company's shares will remain suspended, pending publication of the Admission Document, at which point the Company will seek the restoration of its shares to trading on AIM.
Strange how I was put down a few weeks ago for suggesting that the NDA would have a major effect on Nigeria's economy. Looks like, yet again, I predicted that one 100% correctly, despite team rampit up (many who seem to have "retired" since lol), trying to bully me off the board.
In a report released yesterday, the agency said the Niger Delta Avengers’ (NDA) attacks resulted in immediate and severe disruptions in crude oil production, as some of them targeted key oil-gathering and export infrastructure.
Tim, I suppose when someone gets their wages paid in shares then they would be rather desperate to discredit anyone who may point out that it's difficult to pay the bills with such shares sometime, as often such shares are in fact worthless and that's why "one" was paid in shares in the first place, because the company had no cash.
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