My pleasure, I was starting to wonder where you been!  After 2 emails with Mgmt. which were short and brief and could hardly get any answer,  was that they were excited.  At the same time it is frustrating watching the price plummet from 0.40. to 0.15 cents.  I hope and still convinced that there are some serious strong fundamentals at play with this oilfield and someone will realize the potential.  


From my perspective,  they must (I dont know?) have an idea with regards to expression level and feedback from First Energy in the process....taken that into account its hard to believe why someone would throw away 100k cash if there under the impression things wont turn out.


Who has been through a process like this?  Any previous experience to shed some light on this project....



I've been through a couple of similar scenario, either Joint Ventures or take outs - and one needs to learn to be very pateint and live with the fact that when they get into this kind of stuff - the tules are SIMPLE.
HUSH, not a beep and do not disclose anything in public as all those negotiations and commnications are covered by a Non Disclosure agreement and nor the seller or the buyer is allowd to make comments about anything.
So here we wait and kept in the dark for very good reasons. Sadly the lack of comunications does not entails that the final outcome is going to be positive, for at the end of all of it, it could just as easily be a lack of success and back to square one.
Early 2012 there was a take over offer for Ithaca Energy - we waited waited and waited and finally nothing came out of it as the Ithaca Mgmt elected to refuse all offers and never communicated anything to the share holder, even after all the deals were refused. Not a beep . I sold out and moved on.
Recently Sterling Resources going through some major financial problems caused by cost overruns in one of the JV plays, which they do not control - had to find a way to raise cash or search for a Joint Venture partner to reduce it's financial exposure, they tried a Priavte Placement and immediately the sock got hammerd down by nearly 50%, so the next day they cancelled ( they sure as heck got the message alright). We waited and waited nail bitting wondering what was the next move ..... and suddenly this
Excerpt: Sterling Resources has signed a deal with Shell to farm out 40% of the Central North Sea P1792 licence are covering blocks 21/30f and 22/26c. The blocks – awarded under the UK's 26th offshore Licensing Round - contain three prospects,  Beverley, Belinda and Evelyn.
I could name a couple more, but the bottom line is that these things can take for ever to come to fruition and sometimes the end results are dissapointing and we end up right back to where we were from the get go. I've been fortunate on some plays which managed to turn the ship around, I've lived through 2 bankruptcies that wiped out the share value.
This is the Venture exchange and Juniors in the Oil Business is a risky business when they run out of cash or do not have access to it. At this stage it's a wait and see if one can stand the stress.
Lastly do remember that we are in Tax loss selling season so obviously some people prefer to move on as oppose to holding on to a stock which they fell is too rskiy for their liking or that it takes too long to come to fruition, and that's OK too. It's their money after all, and to each it's own.