who is a non exe director here has just been made chairman of FRI and are going to stop all oil explorations etc. They will then having just reissued loads of shares, going to have to either start getting in a partner for their block 38 in the Oman (unlikely) or Should the Block 38 EPSA terminate, then in accordance with AIM Rule 15, the effect would be that the Company will cease to own, control or conduct all, or substantially all, of its existing trading business, activities or assets and would therefore become an AIM Rule 15 cash shell, pursuant to which it must make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 within six months, failing which the Exchange will suspend trading in the Company's shares pursuant to AIM Rule 40.
Could he make a bid for Gold instead of oil and make an interest in here? possible as both have gone up today? Might be nothing but worth looking into.
Thanks harry - I was missing your s/p bulletin's - big volume today, could be the build up to the announcement of the project our new CEO has been looking for and jibbers 3D model of Mutsk - either way looking good.
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