Yes, that is true, but you are missing the point. The question now is will any one with real money trust MNLU with a JV deal and or cash to finish this well at this time, with all the Mercer Gold dirty laundry out in public view? It was going to be a very tough sell with NG at $3, and with many industry insiders balking at fracking the well (risk) it was an even harder sell, as evidenced by the 13 month delay in completing the well, but now they will wonder if they can even trust MNLU management.
It was interesting to see both stocks rally today.
And no I am not trying to scare anyone. I am trying to engage every one in fact digging, and examining the facts and the implications of the facts, good and bad.
One option might be an MNLU buy out now (or a 50+% take over via huge dilution), and replace MNLU management, to save it from BK, but only if management agreed in time? And only if Westrock agreed to sell the leases to the new buyers, and only if the Westrock leases are not themselves somehow defective (which no one has found proof of one way or the other). Lots of possibilities here and what ifs!!!
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