Meren Energy Inc (MRNFF)

[Scarbender]

Strategy: You may be right. Another trigger for the Private Placement could be the discovery of oil in a second well + 30 days to confirm that discovery. Note that the deal was pre-done (IMO) and sold out W/O a broker dealer, and in a hurry. Now we have $55M cash+$32M from Marathon Oil, and $193M from PPM. Total cash for CapEx: $280MM. Now let a major come and try to buy us out! Good luck with that.