There will be a PR today at 4:10 P.M., according to IR, presumably revealing the loss incurred by Total, instead of the expected profit. This was not what Total represented to RenuEn at the time of aquisition!!! -- and it might be wise and a good idea to immediately UNRAVEL the deal-gone-bad, -- saving RenuEn the $400,00 purchase price AND the 50 million shares. What's wrong with a CEO who doesn't invest cash and shares unless the claimed results turn out to be the actual results? All I get out of this is our leadership does not freely waste cash and shares.
ON THE OTHER HAND, "THIS WILL TRIGGER AN INVESTMENT FROM AN INSTITUTIONAL FUND" into the St.Cloug gas project, where exciting things are happening, WITH "A LARGE GERMAN BUYER" ALREADY HAVING BEEN THROUGH NEGOTIATIONS TO BUY THE GAS!!! Furthermore, that 10 inch pipe 60 yards away does not leave revenues capped at the projected $1.5M, but could be more like $4-$5M per year worth of gas sold at a comfortable profit margin, explained Mike Irving. "That's a nice deal. That's a really nice deal right there."
The bottom line is there will no doubt be some short-term disillusionment about Total in the meantime (and buying opportunities), since so many people wrongly assumed Total was the crown jewel in RENU's arsenal. But once that subsides, what we've got here is a CEO who is prudent with his investments and low float stock that saved $400,000 with institutional funds and big buyers already lined up.
At least this is what I read between the lines from my discussion with Michael Irving, who is ready to discuss all this with anyone else who picks up the phone.
