Claren Energy Corp (CNENF)

[Sckorpleo]

"Then Tgc did the only right thing it could do to protect its shareholders and cancelled the unfavourable FIA..."

I was wondering from the time they cancelled out the FIA. But after some time it makes sense as to why it has been the right thing to do for TGC shareholders..It is a good job from the team and they need a pat on the back

1) Finding oil is not a sure event. TGC will lose all its cash if it has to drill alone
2) With funding from Henc, there could be more wells drilled, increasing the probability to find oil
3) In case if HENC doesn't fund and oil is not hit by TGC drilling alone, no problem - HENC will be out after Jan 2016 (TGC is registered operator) and TGC will be left with more % to its share and still can raise funds for future drilling by selling a % to percv. or others.
4) Since everyone who owns HENC (includes me) also own TGC (all own more TGC than HENC), there is no one really burnt in the process at the end.

So it is favorable for all the shareholders (esp TGC) in either way if HENC agrees to fund or agrees to be thrown out. (The best case would be HENC is thrown out, Oil is hit in this drilling campaign).

Now, I'm hoping that HENC will be out from 444 more than TGC hitting oil in this drilling campaign. Come'on HENC pls get out.