- Joined
- 11 July 2007
- Posts
- 361
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- 3
G'day all,
I was reading over the fence on HC and thought that MHL watchers and holders (like myself) might be interested in this post. I'm sceptical about a lot of info over there but i must say that this seemed very interesting and believable. Anyway thought i would share it with other ASF members ....take it as you will!!
Hi all,
Section from the MHL HoA announcement on 26/11/2007:
# //The HOA forms the framework for the ensuing Joint Venture and Joint Venture Operating Agreement which enables Monitor to move forward with exploration in the Kyrgyz Republic licenses at no operational cost to the Company.//
Please find below my attempt to explain how MEDINA came to have the HoA with MHL and the events that have taken place since then to move the HoA to a finalized J/V between MHL and the Unnamed J/V partner in the near future.
EDYOR&DD
# The US petroleum company could not be named as the J/V as they already had an application approved with the SEC and the application did not list the Kyrgyzstan project. So if they wanted to include MHL at this late date they would have to submit a new SEC application and start allover again which would take a long time. They were eager to get the project moving so hence Medina was used in the interim.
# MEDINA was used as a temporary vehicle until the J/V company had it's AGM this month in the Northern Hemisphere to approve what the SEC had already signed off on.
# The resolutions were approved this month at the AGM allowing the unnamed J/V partner to move forward on folding in the MEDINA HoA into the Unnamed J/V partner.
# The meeting in Sydney on Thursday 20/12/2007 with the unnamed J/V partner that will takeover the HoA from MEDINA went very well. They are keen and ready to move forward with the projects.
# Jon spent Friday 21/12/2007 with the solicitors finalizing the documentation. Once they are completed then the Board will sign-off on the documents.
# Jon stated that they are pushing the solicitors as hard as they can given next week in Christmas week.
# Barring any unforeseen problems (Christmas Week??) MHL will have an announcement out no later than month end explaining the details of the J/V and an update on all the projects including the Uranium projects and and a possible additional J/V on projects in the Cooper and Eromanga Basins. See map below.
# All indications seems very positive based on the research as posted and conversation with Jon.
# Jon has confirmed that the unnamed J/V partner that I had located in my search of the SEC records was the correct one. I will not name the company because IMO that should be announced by the company.
# What I can say is that from all indications from my research the company is cashed-up and ready to move forward with all of their projects starting in Jan. 2008.
# Caveat we will need to see an official MHL announcement to validate the above.
I was reading over the fence on HC and thought that MHL watchers and holders (like myself) might be interested in this post. I'm sceptical about a lot of info over there but i must say that this seemed very interesting and believable. Anyway thought i would share it with other ASF members ....take it as you will!!
Hi all,
Section from the MHL HoA announcement on 26/11/2007:
# //The HOA forms the framework for the ensuing Joint Venture and Joint Venture Operating Agreement which enables Monitor to move forward with exploration in the Kyrgyz Republic licenses at no operational cost to the Company.//
Please find below my attempt to explain how MEDINA came to have the HoA with MHL and the events that have taken place since then to move the HoA to a finalized J/V between MHL and the Unnamed J/V partner in the near future.
EDYOR&DD
# The US petroleum company could not be named as the J/V as they already had an application approved with the SEC and the application did not list the Kyrgyzstan project. So if they wanted to include MHL at this late date they would have to submit a new SEC application and start allover again which would take a long time. They were eager to get the project moving so hence Medina was used in the interim.
# MEDINA was used as a temporary vehicle until the J/V company had it's AGM this month in the Northern Hemisphere to approve what the SEC had already signed off on.
# The resolutions were approved this month at the AGM allowing the unnamed J/V partner to move forward on folding in the MEDINA HoA into the Unnamed J/V partner.
# The meeting in Sydney on Thursday 20/12/2007 with the unnamed J/V partner that will takeover the HoA from MEDINA went very well. They are keen and ready to move forward with the projects.
# Jon spent Friday 21/12/2007 with the solicitors finalizing the documentation. Once they are completed then the Board will sign-off on the documents.
# Jon stated that they are pushing the solicitors as hard as they can given next week in Christmas week.
# Barring any unforeseen problems (Christmas Week??) MHL will have an announcement out no later than month end explaining the details of the J/V and an update on all the projects including the Uranium projects and and a possible additional J/V on projects in the Cooper and Eromanga Basins. See map below.
# All indications seems very positive based on the research as posted and conversation with Jon.
# Jon has confirmed that the unnamed J/V partner that I had located in my search of the SEC records was the correct one. I will not name the company because IMO that should be announced by the company.
# What I can say is that from all indications from my research the company is cashed-up and ready to move forward with all of their projects starting in Jan. 2008.
# Caveat we will need to see an official MHL announcement to validate the above.