Well I have been there and done it with Blake oil...which was born out of what was Canargo Energy. They reported a discovery, then the very next day reported water shows. Ooops. Lawsuits would have been through the roof. So the assets were handed over to the debt holders....a hedge fund by the name of Persistency. Persistency dropped its charter to be a hedge fund and is now Blake Oil.
Harvey Tauman the CEO of GYSN Greyson.... being the brilliant man that he is went in with a bunch of ex-CNR shareholders and negotiated for 5% of Blake oil.(now about 3.5% after dilution) He has recently merged that asset with GYSN as an investment. There is a CC on the 20th to explain were we are there. Bottomline, I was a shareholder of both CNR and GYSN so I knew what was going on from both sides...other than the plan to merge. I had my suspicions though. Good story...I hope. Blake has since further diluted the holdings by bringing in a partner that will spend up to 2 Billion on the concession in the country of Georgia. GYSN is now the only way to buy into the asset. I am concerned as we are not hearing anything on that front though. So looking forward to learn something on the 20th. But how is that for an abbreviated story?
Market Data 
Markets 
AI
