Howard,
I am with you on this stock/debt conversion. I am perfectly ok with it. I think it increases the chances of a JV.
The dilution was approved months ago when the RO was issued. Where and to whom the shares go, doesn't really matter. However, the fact that he was willing to take debt OFF the books of EEGC to be replaced by currently overvalued RO shares is great.
Yes, when we hit oil, those shares will be worth more and he will be rewarded for his investment. As he should be. He, like most of us here, enjoys the return on an investment when the stock goes UP, not down like the shorts like to see.
We now have less debt, increasing the liklihood of a partner liking what they see when they look at our financial situation.
Mr Bendall, if you're out there, thanks for everything. No go make us rich!
News 
Market Data 
Discover 
