Mr. Haftel, you are right -- that is exactly how Hunt versus GSLM should turn out.
The key -- as it has been for the last several years -- is that EEGC must come up with dollars. And after two years, Hunt's patience is likely wearing thin.
There has been speculation that Hunt would not even want the lease. I think they would prefer to stay in the drilling business, but given the choice of nothing or the lease, they would choose the lease as they DO have the resources to drill.
And with an expected value of $2B plus for Thunderbolt and Bellevue by Mr. Bendall's calculations, $40M by mine (due to 2% likelihood of commercial volumes per RPS Energy), the lease is better than nothing.
I would think that giving Hunt a percentage of the company might be the compromise -- but hasn't that already been tried? And then, what about the other debtors?
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