Rigger1 Sep 2010 16:18
As you are a bit lonley....good read from 'dicko' on III :
"The Oil & gas Industry is renowed for Insider type trading by BOD…
MATD issued options @ 46.16p on the 13th July and the find of oil announced on the 15th July, sp went up 300% and now sits @ 133p...
PELE directors, predominately those related to Tribeca invested $25m plus Juan Carlos added an additional £147k @ 50p, 3/4 weeks after testing commenced of a new untapped sandchannel…....
"In addition to subscribing for the abovementioned Placing Shares, Rorick Ventures Group Inc ("Rorick"), a company associated with Juan Carlos Rodriguez, a director of the Company, has acquired 294,504 Ordinary Shares from Dignam Holdings Limited at a price of 50 pence per share"
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Who are Tribeca ?
Tribeca Partners is Colombia’s first private equity company, is based in Bogota and invests in companies focused upon the emerging economies of Latin America.
Petrolatina is their first investment in the energy business and the company asserts that it is a long term holder looking to consolidate the fragmented oil and gas industry using Petrolatina as a vehicle. Tribeca has been influential in putting Petrolatina back on its feet and leading the recruitment of senior management.
Tribeca has two representatives on the Petrolatina Board - Luc Gerard, founder of Tribeca, as Executive Chairman and Ciro Mendez as an Executive Director.
Additionally, it has brought in Juan Carlos Rodriguez as President and CEO of Petrolatina (8 years as President of Petroleos del Norte) as well as significantly bolstering Petrolatina’s operational team.
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WHY THIS IS VERY SIGNIFICANT.........
EVO broker note...
"However, rather than draw down additional debt and trigger the issuance of further warrants we believe that Petrolatina will look for fresh equity,
something that it has alluded to in recent press releases.
If this were to happen we would not expect Tribeca to participate pro-rata thus diluting its holding."
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ask yourself why Tribeca would want to dilute their holdings with news around the corner ?
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"Having met Tribeca we understand that they are unlikely to participate in any further fundraising."
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again ask youself, why would Tribeca change their mind after 3weeks of testing the new sandchannel ??
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and US$3.5 million gross by a company associated with Juan Carlos Rodriguez, a director of the Company (the "Placing")"
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So 3 directors ploughing in $8.5m 3weeks after testing commenced of the additional sandchannel.....
and again ask y