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I read and posted the article.
it doesn't say anything concrete,IMHO nothing has changed with VNX other than almost 1M shares traded today on a
"un named" NOC spokesman quote.
Dow article
LONDON (Dow Jones)--The Libyan government is looking to buy Verenex Energy Inc. (VNX.T), a small Canadian oil company with Libya-focused operations, for around 10% less than what the Chinese government has offered to pay, a senior official said Tuesday.
The move, representing a shift from what the Libyan government said officially earlier this year, comes after months of foot-dragging from the Libyans over whether to buy Verenex itself or to approve a roughly US$460 million buyout offer from state-run China National Petroleum Corp. for the Calgary-based company.
In terms of volumes discovered, Verenex has been the most successful oil explorer over the past four years in Libya, an OPEC state with the world's eight largest proven oil reserves.
But the company has been caught in a struggle between the Libyan and Chinese governments that has become something of a test case for how Libya respects deals with foreign companies under its new oil contract regime put in place in over the past five years.
The Libyan official said the General People's Committee, which acts as an executive council made up of several senior Libyan officials, is looking for the North African state to buy Verenex for around 9 Canadian dollars
(US$8.34)
a share.
Libya's national oil company in March said the state would block the Chinese deal but pay the same price the Chinese were offering of C$10 a share.
"We think this reduced price would be fair value," the senior Libyan official told the Wall Street Journal at the time.
Verenex said in a statement Tuesday the General People's Committee is seeking to "negotiate a reduced purchase price," a move Verenex Chief Executive Jim McFarland recently called unacceptable.
It also said the CNPC hasn't yet terminated its proposed offer for Verenex, which was due to expire Aug. 24, and that talks continued between Verenex and the Libyan government.
the senior "un-named" official is interesting.
You are speculating?
or have a very,very good feeling that's what is coming?
someone ate a whack of shares at this level today
7.43M with 20 minutes left
I am surprised this is still under 6.5 cents with this volume today.
your link to VNX news doesn't work.
can you post the article??
The SP sucks today, but the 4.5M in volume to 10am Pacific shows something is in the mix..
News coming soon? or is something out on TV again?
Axis has some very knowledgeable people with a lot of experience dealing in Muslim culture andprotocols guiding this deal.Its a huge part of why this takes so long and why there is NO news until everything asked is completed.
IMHO its also the reason why VNX is having so much trouble right now. The mgmt or their contacts blew it and to keep coming out publicly about arbitration will get them no favours with the NOC.
The NOC is the 86% partner in VNX's deal and they have a 7% partner trying to dictate terms to them??
If the story is true that the Chines brought 20,000+ troops into the Sudan to protect their oil interests, you think Sudan's neighbours can't see or hear about it?? Granted, they probably need that many in the Wild,Wild Sudan.
VNX was up 40 cents today on news and 653,000 shares traded.
Ugly sell off in what?
15,000 shares sell at 83 to 85 cents
Nice buy for the believers, not so nice for the fallen off the wagon crowd because news didn't come out before Ramadan.
If I wasn't so overloaded in EVERYTHING, I would buy today.
It won't effect any of them that have a clue in dealing in Arab/Muslim culture.
IMHO VNX broke the "grey" part of being the NOC's partner in a a 2B barrel "gift" and maybe in future contracts the expectations of hanging around until production or how the NOC is informed of a buyout changes?
I hope I still have that 2B right off an old VNX PR.
I believe you are right. Agreed.
@ $70 a barrel and 2Billion barrels ? estimated or confirmed (can't remember the NR right now) the 7% that VNX carries has to be worth a whack more than $10 or $460M Can.
2B barrels X $10? inground = $20,000,000,000 X 6 2/3%
= 1,340,000,000$$$ US
just rough math or in other simple terms a lot friggin more than they tried to sell for and there is a lot more area to drill in their concession.
Now seeing as the NOC is VNX's biggest partner in that concession and it seems is having a junior try to dictate terms to it.......one day we will hear word of a buyout.
Lessons learned this week.
Looks like the NOC will let VNX deal lapse,as it should and will deal with it on their own time.
The NOC will deal with any deal on their own time, so whenever they chose to announce a round of concession granting, they will.
IF anyone with power read some of the BS posted by VNX apparent shareholders on the Inet,they might be pissed enough to let VNX go appoplectic in the corner the have been put in.
I don't know who bought VNX PP at $13.50?, but if it was me I would be extremely pissed to see VNX bailing when oil was $35 per barrel at the extreme low end of the market for $10 a share.
IMHO VNX was expected to be in the deal right into production, which probably meant giving something up to raise the $$ to get it there and they bailed...to the Chinese..oopps
So if VNX can't get news out on a $500 Million deal,then it shows to deal in Libya be prepared to sit and wait.
Wow, quite a story.I just went back a few hundred posts to see what has happened. I got the email and phone call months ago about voting my shares and reading some of the mgmt abuses i was stunned.
IF the vote has went our way (5 Amigos win) then there might be some legal housekeeping due to the Delaware Corp and A Canadian company and the filings in State and Province.
The news of the PR by the hopefully ex mgmt was the attention getter for me. This might take some time to sort out and also the recovery of whatever physical bones of the company are left.
My buy in was a lot higher than this level and even averaging down still needs a major run to get even.
Seems a lot of people keep looking at the members of the board with outstanding resumes and start to think this could be a huge deal.
So anyone have access to how the conference went?
So with the step up in volume yesterday,were some of the audience texting their brokers to "buy a little bit"??
This is set up for more news to come.
August is traditionally a dead trading month, so is this set for a September run?
Wow, was there some kind of cosmic event I missed yesterday?
reading the board today.
Pigman has returned from the dark side. almost firmly entrenched as Dr Evil's bipolar twin.
Verenex gloom has turned to 7.20 Can today.
The realization of not much happening during Ramadan has set in o a positive note.
Altho some of the posts calling out Dr Evil were zapped...
DR EVIL HAS STRUCK AGAIN!!!!!!!!!
As he said "looks like Axis is going to totally collapse" "heading back to 50 cents".....
and????
solid 1.14 on 20,000 shares today!!
Damn!! What we need is Evil to give us his "dime" prediction imminently so Axis trades around 1.80 the next week.
As for business done during Ramadan?? Yes it goes forward in Libya and wouldn't it just be perfect that this private round gets announced when everyone thinks it won't?
I still can't get over the well the Libyans hit at 15,933 barrels a day.They deliberately underestimate resources and use flow rates thru small chokes so
15,933 X 365 = 5,815,545 barrels a year X $70 gross + $400M gross.
I sure hope they turn the tap off during Ramadan to make it fair.
Santa will come every day in Libya in future years.
VNX is $6.96 Can on 300,000 shares today
It hasn't seen $7 for a long time. Up 41 cents today
Looks to me like someone is selling a position yesterday and today.Not a big one but someone else is taking it all.
The rumour is 10 companies are sitting in Libya waiting for the final word on concessions which could come in a day or a month.Or months.Maybe the 10 is actually 5 or possibly 20,the NOC seems to work in mysterious ways and very few know exactly how ALL the protocols work there.
There seems to be NO time line to the word GO, but there is one after the go-ahead is given to start spending $$.
Before Ramadan, after Ramadan,before halloween,after halloween,thanksgiving, we sit and wait.
I got into a little deal a month ago, everyone else got out, but I held and it looks intriguing.
VRAL
News out today... going from research on starving cells infected with Aids to the same theory and technology for brain cancer.
Nobel peace prize winner on board as well.
I know you guys are bored and need a "ramadam alternative".
Viral Genetics Scientist Presents Potential New Treatment for Drug Resistant Brain Tumors at Aspen Symposium
2009-08-11 16:23 ET - News Release
SAN MARINO, Calif., Aug. 11 /PRNewswire-FirstCall/ -- Dr. Karen Newell, Ph. D., the lead researcher for bio technology company Viral Genetics , will address the 4th Annual Aspen Symposium on Brain Tumor Immuno- and Stem Cell Therapy. Her presentation will highlight the potential for combining chemotherapy with compounds that interfere with the ability of brain tumor cells to generate the energy needed to repair chemotherapy induced DNA damage. This repair mechanism is the major source of drug resistance in patients receiving Temozolomide, a widely used chemotherapy for the treatment of glioblastoma multiforme, or GBM. This combinatorial approach of chemotherapy and metabolic disruption is one of the clinical strategies currently being pursued by Viral Genetics' subsidiary MetaCytoLytics, Inc. The presentation entitled, "Metabolic Disruption as a Mechanism to Potentiate Temozolomide Therapy in Glioblastoma Multiform," is scheduled for 11:10 a.m. on Wednesday, August 12, 2009. At the conference presented by the Department of Neurosurgery at the University of Colorado Denver School of Medicine, Dr. Newell's audience largely will be neurosurgeons and neuro-oncologists.
"Metabolic disruption technology has been around for nearly eighty years," explained Dr. Newell. "Until recently it wasn't understood in a way that enabled researchers to harness it to combat drug resistant cells. That process now has the potential to impact the primary cause of death in cancer patients - drug resistant tumors."
According to MetaCytoLytics CEO, Dr. Richard Trauger, metabolic disruption technology has become a focal point for many cancer researchers because of its ability to limit the ability of the tumor cell to repair itself after damage from chemotherapy. DNA damage repair takes energy, and by going after the fuel sources for the cancer cells, specifically glucose and fatty acids, we have been able to dramatically limit the fuel tumor cells require to repair the damage done by chemotherapy. Dr. Newell's work illustrates the benefit of using metabolic disruption in combination with chemotherapy to not only directly starve the tumor cells but to also prevent them from resisting the effects of the chemotherapy."
ABOUT VIRAL GENETICS:
Headquartered in San Marino, California, Viral Genetics discovers and develops drug therapies to treat infectious, autoimmune, and immunological deficiency disorders using its thymus nuclear protein compound (TNP). The company recently entered into an Exclusive License Agreement with the University of Colorado and V-Clip Pharmaceuticals (a subsidiary of the Company) to license technology developed by M. Karen Newell, PhD, that appears to explain TNP and provide a means to optimize therapies based on TNP for future clinical trials. Viral Genetics believes that its investigational HIV/AIDS drug based on TNP, called VGV-1, represents a unique approach to treating HIV due to the apparently novel mechanism, low toxicity profile, simple dosing regimen, and short-course of treatment. Viral Genetics recently formed a wholly owned subsidiary called MetaCytoLytics, Inc, to advance a technology developed by University of Colorado Professor M. Karen Newell called "metabolic disruption technology" (MDT), which focuses on blocking a tumor cell's ability to generate energy from glucose or from fatty acids. Viral Genetics has an option to acquire exclusive rights to the metabolic disruption technology from the University of Vermont and the University of Colorado, where the technology was invented and developed by Dr. Newell. Viral Genetics is completing negotiations to convert the option into an exclusive worldwide license covering a broad range of uses and specific therapeutic compositions. Online at www.viralgenetics.com.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. VGV-1 is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. While Viral Genetics believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Viral Genetics to establish the efficacy of VGV-1 in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of VGV-1 in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be achieved.
Contact: Haig Keledjian, 626-334-5310
SOURCE Viral Genetics
Viral Genetics
CONTACT: Haig Keledjian of Viral Genetics, Inc., +1-626-334-5310
Web site: http://www.viralgenetics.com/
Just remember VNX mgmt went completely stupid in how they went about bailing out at the low end of oil prices.
The NOC could care less about their timeline and probably anyone else for that matter.
When you are sitting on some of the biggest and easiest oil/gas reserves in the world, you can do whatever you want.
Remember as well Libya had a 25? year embargo that finally got zapped and IMHO they would be wise not to be pissing off the US and European govts. The position of power may change in the next few years, but there has been NO technology upgrades for many years and that is probably a priority.
As for the volume...199 share trade was a joke and as per usual the chicken little prediction of 50 cents got whacked.
August is a month for everyone to take a holiday, including anyone watching the AXGC market so these stupid low price swings will happen.
News Out Today.
Looks greatViral Genetics Scientist Presents Potential New Treatment for Drug Resistant Brain Tumors at Aspen Symposium
2009-08-11 16:23 ET - News Release
SAN MARINO, Calif., Aug. 11 /PRNewswire-FirstCall/ -- Dr. Karen Newell, Ph. D., the lead researcher for bio technology company Viral Genetics , will address the 4th Annual Aspen Symposium on Brain Tumor Immuno- and Stem Cell Therapy. Her presentation will highlight the potential for combining chemotherapy with compounds that interfere with the ability of brain tumor cells to generate the energy needed to repair chemotherapy induced DNA damage. This repair mechanism is the major source of drug resistance in patients receiving Temozolomide, a widely used chemotherapy for the treatment of glioblastoma multiforme, or GBM. This combinatorial approach of chemotherapy and metabolic disruption is one of the clinical strategies currently being pursued by Viral Genetics' subsidiary MetaCytoLytics, Inc. The presentation entitled, "Metabolic Disruption as a Mechanism to Potentiate Temozolomide Therapy in Glioblastoma Multiform," is scheduled for 11:10 a.m. on Wednesday, August 12, 2009. At the conference presented by the Department of Neurosurgery at the University of Colorado Denver School of Medicine, Dr. Newell's audience largely will be neurosurgeons and neuro-oncologists.
"Metabolic disruption technology has been around for nearly eighty years," explained Dr. Newell. "Until recently it wasn't understood in a way that enabled researchers to harness it to combat drug resistant cells. That process now has the potential to impact the primary cause of death in cancer patients - drug resistant tumors."
According to MetaCytoLytics CEO, Dr. Richard Trauger, metabolic disruption technology has become a focal point for many cancer researchers because of its ability to limit the ability of the tumor cell to repair itself after damage from chemotherapy. DNA damage repair takes energy, and by going after the fuel sources for the cancer cells, specifically glucose and fatty acids, we have been able to dramatically limit the fuel tumor cells require to repair the damage done by chemotherapy. Dr. Newell's work illustrates the benefit of using metabolic disruption in combination with chemotherapy to not only directly starve the tumor cells but to also prevent them from resisting the effects of the chemotherapy."
ABOUT VIRAL GENETICS:
Headquartered in San Marino, California, Viral Genetics discovers and develops drug therapies to treat infectious, autoimmune, and immunological deficiency disorders using its thymus nuclear protein compound (TNP). The company recently entered into an Exclusive License Agreement with the University of Colorado and V-Clip Pharmaceuticals (a subsidiary of the Company) to license technology developed by M. Karen Newell, PhD, that appears to explain TNP and provide a means to optimize therapies based on TNP for future clinical trials. Viral Genetics believes that its investigational HIV/AIDS drug based on TNP, called VGV-1, represents a unique approach to treating HIV due to the apparently novel mechanism, low toxicity profile, simple dosing regimen, and short-course of treatment. Viral Genetics recently formed a wholly owned subsidiary called MetaCytoLytics, Inc, to advance a technology developed by University of Colorado Professor M. Karen Newell called "metabolic disruption technology" (MDT), which focuses on blocking a tumor cell's ability to generate energy from glucose or from fatty acids. Viral Genetics has an option to acquire exclusive rights to the metabolic disruption technology from the University of Vermont and the University of Colorado, where the technology was invented and developed by Dr. Newell. Viral Genetics is completing negotiations to convert the option into an exclusive worldwide license covering a broad range of uses and specific therapeutic compositions. Online at www.viralgenetics.com.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements that involve risks and uncertainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. VGV-1 is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. While Viral Genetics believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Viral Genetics to establish the efficacy of VGV-1 in the treatment of any disease or health condition, the development of studies and strategies leading to commercialization of VGV-1 in the United States, the obtaining of funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be achieved.
Contact: Haig Keledjian, 626-334-5310
SOURCE Viral Genetics
Viral Genetics
CONTACT: Haig Keledjian of Viral Genetics, Inc., +1-626-334-5310
Web site: http://www.viralgenetics.com/
Oh MY GAWD!!
Evil has spawned an $$$$$$$$$$$ idea.
The construction business(private not government) in BC has been so incredibly awful this year and looks like it will continue for the next while, we needed a new gig.
AND just found a brilliant idea.
The GF is in the kitchen baking these kool cakes shaped in the letters A X G C. She has hacksaw blades in the X and cigarettes stuffed in the A and naturally, condoms in the C and $25 in the G to bribe the guards.
IF anyone here needs a "cake" delivered, they are $25 plus shipping.
The wait continues.
Ramadan and August are so slow....Yaaaawwwwwwwn
the common perception by some heavy shareholders is $3 to $7 in a hurry after news.
this has to be the best pink in the world that trades pretty regular over a buck to 1.50 except the period last summer when everything crashed and someone got blown out at 50 cent range.
Richard, as you will get to know on this board,you have to sit and wait for this deal to happen... news is dependent on the NOC and IMHO,the private partner.
It is nice to see new blood on here with the enthusiasm you display....makes it interesting reading...again
IMHO
With the manor,or execution of how VNX went about their business with the CNOC,look for the NOC to have them bought out by someone more understanding of how business is done in Libya.
Piggie!! have you went thru that 20$$GR buying yet?
I think that the holiday shouldn't interfere with this annoucnement if there's to be one.
Are you having trouble taking my hint of opinion?
Axis won't announce anything until everyone else in this deal does their thing...and smart money says companies waiting for concessions won't waste over a month of a set time period to start the cash register rolling.The NOC knowing this as well.
#2 and its a big TWO.
Nothing ever happens during a WinwithmyGF Tequila Run.....
So we are accepting donations to hold it down to 6 weeks starting end of August.
Nice post Cruncher...as said before there a lot of hugely well heeled people holding this for years...a few more months doesn't matter much
breath
breath
breathe deeply.
IMHO this round of deals will have a rider that money had to be spent on a concession with a time limit. 6 months? 12 months?
So it would be to a company's benefit to save a month of Ramadan and have the clock start ticking end of Sept.
Verenex was around the 6.30 mark Can $$ today.
Ramadan has a large history of being the time of relaxing,keeping the faith,blah blah blah and
also....California Tequila Run time. YaaaaaaaHOOOOOOOOOO!!!
Nice call on the dollar.
1.0665 Canadian and dropping which makes it great for our travels to the US in about 3 weeks,but completely sucks for all US stocks bought @ 1.16 to 1.51 Can like sighhhhhh
AXGC
So Ramadan starts ??? ends????
Whats the next call Piggie??
We just partied down to the two year anniversary of NO Axis News.
It was a wild time, everyone got really liquored up!!!
I believe the buyers are playing mining stocks this summer.
Or somewhere cooler than here... with humidity it was 39C in Vancouver today, 35C on the car thermometer.
BUT, apparently not as hot as Palm Springs @ 124F
Piggie, you are an interesting guy.
Seems you are informed on Axis.
When they can finally announce a deal done, IMHO there will be a lineup of "recommenders."
When there is a proven reserve in the ground the price of oil may matter. But shear speculation will drive the SP north.
This trades here like it is setting up for a move higher.It seems the days where the SP would dip by a few cents are by and its a tight range now
There was a story a while back that the Chinese NOC was drilling in the Sudan?? and brought in thousands of "security agents" to protect their interests.
Lucky for everybody there,they were dressed in Chinese army fatigues so everyone else knew who they were shooting.
Once in the country,never out of it?
looks like its back to the boring topic today
I DO KNOW THERE WAS PANIC IN THE STREETS THIS AM WITH NUMEROUS EMAILS,PHONE CALLS AND TEXT MASSAGING.
LUCKILY WE WERE DRINKING MARGARITAS LAST NIGHT WITH WIN'S SPECIAL BLEND....NOT SO LUCKY WERE SOME OF MY SON'S BUDDIES THIS AM WHEN THEY REALIZED HOW MUCH LIQUOR WAS IN THAT BLENDER.
SO IS IT TEQUILA TODAY OR VALIUM?? OR LOCAL BUD?? TO c a l m
some of those j i t t e r y nerves???
$1.05 close nothing happened nothing changed
we still wait for process to continue snnnnnnnnooooooooooorrrre!! that was snore
Haahahahahahaahaha Ha!
This isn't the first time this has happened.
Back in the dark days when this hit 45 cents, the same thing happened and a few times..500 or 2000 shares would trade at a huge discount. You couldn't buy them or they would bypass your order
Ouch!! A couple of whacking trades this am.
Nice pickup for whoever had the 77 bid in.
Gotta love the summer....nobody home....sleeping in late... still hungover... maybe turn a computer on around 11:30 and check the market
Be a MM and buy the cheap stuff...with someone going to pay more ...sooooooon.
The other board is s t o c k h o u s e.
But it seems to be taken over by basher Blanket2 who owns Axis but doesn't like Glen and also Xerxes1 who posted this gem
I think whoever was spreading rumors is beginning to lose his/her credibility.I for one am starting to have serious doubts that there is anything here and will be selling my position shortly.I also do not believe it will hold over a dollar when I do.Too many "dates" have come and gone with nothing and your shell game theory is starting to look a little more believable.
If this doesn't happen right away I am going to sell my position and drive this under a dollar!! Heard it before..
So sell... and move on.
take a breath,maybe go to the lake like most others it seems and hopefully the news everyone has baited (herring) breath for will happen.,,,,,,,,,,,,,,Imminently.
the Imminator
I bought into this a few weeks ago on the story of some big news to come and the TV spots. Seems the Monday news of zapping their debt is a precursor to "other" news to follow.
After the dip to mid 5 cents and bouncing to 81/2,it looks like something else is coming.
I don't think I said a specific date, just saying end of July is too early and don't want to hear how somebody said it would get done by blah blah...it doesn't and then people are pissed.
I have read and heard $5 on news, so I just tempered it down a bit.Could be $7 as per Piggie.
Close for 1.5 years now as everyone learns how to do a deal in Libya... and they have 20+ years on the sidelines and some catching up to do as well.
The Win-man is getting the feeling that someone is accumulating Axis this week. Seems everything in the 1.20s is getting taken.
As a further note to my last post...this deal is said to be in the any day now mode since June 15th and some of us firmly believe that you won't be buying this under $3 near news.
The old,old PR says Axis is pursuing oil interests in N Africa and Indonesia. Fletcher would be the Indonesian connection.
I answered almost the same question on the Axis board today...for a more long winded reply go there.
thats very true. What is very reassuring here is that this shell has always been kept very clean. They never pumped it to sell shares. Never! If they indeed deliver on a big oil deal as they suggest in their last PR prior to their symbol change this low floater will take off.
This goes back to the beginning of Axis time. Davidam started this thread and it looked like it was ON in Oct 2006. There was a NR that I can't find that said Axis was pursuing oil in Indonesia and N Africa.
If someone wants to see the history, I recommend going back thru the old posts here. Lots of info and then lots of BS in the 2009 as well.
IMHO, the reason that NO news has been put out publicly is being pink and at one time having connections in B.C. and with the BCSC on witch hunts for pinks,Axis will not be in any way viewed as a pump and dump.So the BCSC and the SEC have absolutely no reason to "harass"...."us" (shareholders as well as the company)
The Libyan oil concessions are the most sought after in the world and again IMHO, there have been all kinds of companies,lots of local juniors especially, who have heard the rumours/story and want into Libya,if only to pump their stock.There was an East Indian company with news out months ago doing this.
IMHO...again,the belief is that this is tightly held with a float that might have been 3-4M shares in 2006 being swallowed and any weak large positions were blown out in the market collapse.
The restrictions to qualify in Libya are massive and its believed that MES and a private venture are in on this. Along with Fletcher and his Indo connections. IMHO the private Co can roll along doing whatever it takes to get this done and then Axis and MES can join the party and that means AXIS has nothing to say until the NOC and the Prvt Co say something publicly.
Davidam did a hell of a job here on IHub until he tired of the long wait and moved on.
On a more recent note, this has traded very solidly with a little volume over 1.20 this week.
Yes Fletcher is very much in this deal
and yes they do go for "meetings".
I hear Fletcher thinks this deal is fantastic.