Replies to post #6655 on Hero Technologies Inc (HENC)

[LarryBear40]

I AGREE COMPLETELY WITH YOUR STATEMENT REGARDING MORE OWNERSHIP OF HENC THAN TGC. I ALSO OWN BOTH, BUT MUCH MORE HENC. I THINK CONTROL OF THE ACREAGE MIGHT BE WORTH MUCH MORE AS FAR AS A BUYOUT.

[Hamilcar54]

I don't believe TGC will look for new properties or try to build itself into a big local oil company (to start with, they don't have the money). My take is that they will go for the buyout route as well. A clue here is in the recent interview with Carlo Civelli:

"We have told Terra Nova management that we will continue to fund the company either through private placements or by taking a direct interest in the underlying concession, which is exactly what we did in Papua New Guinea years ago. In addition to our large investment in the company, we also owned 20% of the underlying acreage. When the company found a huge gas discovery, we sold our 20% interest to Oil Search Ltd. (OSH:ASX) last year for a very nice profit. We are looking to do the same here."

So far they are doing exactly the same as on their previous company which they sold for 900m. So I'm betting they will sell as well when the right offer comes along.