EIO 3.57% 29.0¢ energio limited

what's this company really about?

  1. 6,072 Posts.
    This whole call/put option deal is dodgy in my opinion and I feel that it is being used predominantly for the benefit of the prospective vendor company (TGP) only.

    The $800,000 was a loan to TGP/KCMH to allow for the exploration drilling program. I am actually shocked that nobody picked that up in my first post here. It was intentional yet nobody corrected me. Amazing?

    A re-read of 9 Nov announcement is warranted. Forget about the project, just read about the deal and bear in mind that the new directors on EIO are the same directors of the selling company yet they used shareholders funds from EIO to test the waters.

    Perhaps the mug punters get on while the sophisticated investors get off at 100%+ profits. Awesome!

    How good is this deal for TGP? They own the business (KCMH) and then come to the market via EIO to de-risk. So what's the price for the project? 830m shares, 1 billion shares, cash? What is it?

    This is unreal. Is there a conflict of interests in this deal? We have the seller and buyer representatives on both sides of the fence.

    http://tgpenterprises.com/About%20TGP.html

    At the current share price of 4 cents and nothing more than just under $2 million in the bank and capped at $32 million it's a massive sell for me.

    ;)
    Nic
 
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