Golden Triangle Ventures Inc (GTVH)

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jaybot,

MRO signed a deal that provides to purchase $3.5 Billion in leases in the Eagle Ford Shale. But when you read the press release, it does not use the words LOI, it says, "plans to" and "will" all throughout the announcement.

MRO plans to close on the deal by the end of 2011 which is 7 months from now.

As you can see, this is an LOI and MRO has been in business for more than 3 years.

It is normal for any business of any size to engage in discussion to acquire assets or other businesses and they do go through a procedural phase.