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Wednesday, August 16, 2006 2:12:13 PM
Heres my synopsis.
1. It looks to me like the delay in completing #3 & #4 was the result of the negotiations on the LOI acquisitions. To be blunt, it served BIGN's interest to try to complete the LOI deals as a separate issue but the companies with which they have the LOIs refused to budge on a requirement tieing the completion of the LOIs to some kind of involvement in the wells that are being completed and/or that are planned for completion in the future (or a set of requirements.. ORI interest, Prodiction Payments... that sort of thing).
2. Continuing on this line of reasoning, it further follows that a paucity of press releases would accompany the attempt to keep the LOI deals separate. After all, if you pop press releases in abundance informing a party with whom you are negotiating that there are things of considerable value that they could demand as part of the deal, it would be logical that BIGN would release few, if any, meaningful press releases during the timeframe during which negotiations are underway. Anyone who plays bridge well knows how to read what others have in their hand by what is being bid.
3. And finally, now that BIGN appears to have lost the negotiation over whether the Grimes properties (and probably others in the future) are to be a part of the completion of the LOIs, my expectation is that we will shortly begin to see an uncorking, as it were, of pent up news. The hand has been dealt and bid. Now we are about to see it get played out. Hang onto your hats!!
Conclusion.... we have put in a bottom and the gusher in terms of parabolic price increases await us all very shortly.
The Future's so bright, I gotta ear shades, baby.... I gotta wear shades!
All opinions are mine alone and should not be used or understood to be investment advice. Do your own Due Diligence.
ImperialWhazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
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