About 155 mill outstanding shares Case controls 91 mill, Funds like Blackrock/State street etc own 26 mill, Frank 2.5 mill (not considered insider), and a few others another 1.5 mill (also not considered insiders) makes up about 78% of the shares. If Case and others buy more, we may have less than 30 mill shares or 20% of the stock left to the public float.
Case putting up drilling money- by buying drilling rights from ENI with money from his other company, the new drilling company (Case owns) will pay for Camac's future drilling needs, and then eventually Case will buy more shares when he is able to. He has put up his own money where CAK stock is concerned- look for about $2.00 to $3.00 a share next time he is buying!
the information on Ingreselli, Grigg etc. is from June 2010 because once they left the company they were not required to file. I would suspect that their holdings are now zero because they knew of the well problems in OYO.
Frank went to work for a consulting firm after he found how hard it was to do business in China and Nigeria. By the way CAK has a ton of high quality oil in OML 120/121 and down the road will be counted towards book value. I liked Frank but Case is on energy cabnet, international trade committee (which is an imposible appointment to attain), and in charge of all oil that comes thru ports in Houson Texas. He will get his 59% ownership of CAK stock up!!