Any connection between the Polomar Group (Business Development company) and Polomar Natural Resource has not been established to my satisfaction.
JB did seem to emphasis that this time he was back as a partner - implying perhaps an antagonistic approach to OF caused by him failing to be appointed to a level in SLE that his early work and experience justified.
I only hope his come back is based on his confidence he can indeed show results rather than a Kamakazi attitude to prove others are incompetent.
Could this be the way it all happened. JB left SLE, saying he'd keep in contact etc: etc: He then fiddled about a bit in the US. At some point JB had decided he wanted his own Co:, or it was an agreement between himself and OF. Either way JB got a few Idea's together for a new Co: which included some of SLE projects and also near term production projects in the DJ basin in Colorada and another in the San Juan basin New Mexico. One of these already in production. Having got the Idea and the tech: know how he needed back up and money, so he went to the Polomar Group for back up, advice and money, which is what their business is. So there we have it, the money comes from US Co: The Polomar Group (no arab). PNR basically is owned by management, just exactly what kind of agreement that constitues I dont know but it sounds like a kind of franchise of some kind. By that I mean that you own it but at the same time you actually dont.
The Polomar Group specialies in private equity, leveraged buyouts, mergers/aquisitions and financing. Its a private Co: and itself was only formed 3 years ago and of course so is PNR a private Co: as such anything it buys or acquires is gone. Surprisingly or perhaps not Polomar Group has only between 1-10 employees. I wonder how many SLE s h are happy with this deal and would it make a difference if JB was not the front man. With my cynical mind I can't help thinking, was this a plan already made before JB had even left.
For the record - I have had a buy order in since first thing this morning for a lousy 100000 shares to buy at limit of 2.4p for today - so far haven t received any - strange everybody holding for the big news?
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