Friday, January 22, 2010 2:38:37 PM
Based on info at Pinksheets.com, I don't see how ENMI can purchase FMNJ's energy assets with its 2nd quarter balance sheet figures...Pinksheets states company changed name in Dec 2009
Current bid@.02 and ask@.08
We still have to wait for FMNJ's 2007 and 2008 audited financial before shareholders receives anything....
Looks like ENMI was a shell company being ran by Howard Dunn,PE who is FMNJ Vice President of operations....They basically leveraging franklins energy assets into a new company which Howard Dunn will be the new President of operation for Franklin Oil & Gas...somewhere in escrow in a bunch of ENMI shares which bought Majority interest in new public company Franklin Oil & Gas Inc...same managing crew switched around with ENMI holding the leverage debt in Petty's network of companies..
Still sounds like a good deal as long as the Bolivia natural gas agreement the S.A.M. Corporation between YPOF and Franklin Oil & Gas
http://www.redorbit.com/news/entertainment/608397/franklin_oil_amp_gas_bolivia_and_ypfb_to_form_a/index.html
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