RE: Specifically for the ignorami22 Mar 2026 09:47
The purchaser is Caribbean Rex Limited, an entity jointly owned by T-Rex Resources (Trinidad) Limited (51%), a wholly owned subsidiary of Predator Oil & Gas Holding Plc ("POGH"), and the West Indian Energy Group Limited (49%), a Trinidadian company active in the domestic oil industry ("WEIGL").
· Consideration represents a total transaction value of $6 million, whereby:
o the Company will receive cash and liquid securities of $1.75 million, to be applied to general working capital and further strengthening the Company's balance sheet:
§ an initial deposit of $0.25 million in POGH shares (approximately 4.4 million POGH shares to be issued to the Company);
§ $0.75 million on completion - $0.25 million in cash and $0.5 million in POGH shares (the number of POGH shares to be issued will be based on the exchange rate and market price of POGH shares at the time of completion); and
§ $0.75 million, in cash, in three equal instalments at year-end 2025, 2026 and 2027; and
“ On completion WEIGL will assume all liabilities, provisions and potential exposures of the business, assets and operations in Trinidad and Tobago, which for the purposes of the proposed Transaction are agreed to be $4.25 million.”
They are doing this for the sum of nothing, just good will according to Keith .