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Infinity Energy Resources Inc. Message Board

  • greatest_samurai greatest_samurai Mar 12, 2013 11:26 AM Flag

    No deal by end of March?

    Then I shall present to Stan my sacred ceremonial knife and ask him to do the right thing. Every organ!
    Or, off with his head!

    Greatest Samurai is back.

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    • yeah.

      I am doing my periodic checking in.

      looking through the news, looking through the message boards...NOTHING ABOUT A DEAL!!!

      Boy am I surprised!!

    • While still long IFNY I gotta wonder how a deal gets done by end of Q1.. about 3 weeks from end of March if the deal is not already done sorry to say it is not getting done in 3 weeks... Lawyers don't work that fast neither do most Investment Bankers esp when they are just hearing about the proposal.... I'm looking for a deal sometime in May through November

      • 1 Reply to mtravel818
      • A deal cannot be completed by the end of Q1 if IFNY has not been working with any prospective partner on a deal. Stan said at the last two conference calls that IFNY was talking with five companies larger than NBL--those companies do not need approval from investment bankers for a deal of this size. As for lawyers, the prospective partner would likely draft most or all of the documents (most of which would be form documents), and those could be completed fairly quickly if necessary. According to Stan, the 3D seismic needs to begin this spring to accommodate the Nicaraguan commercial fishermen.

        If Stan has been less than honest with IFNY's shareholders, then I agree that IFNY may not find a partner until the May through November time period. If Stan cannot fulfill his Q1 partner promise, then he likely needs to step aside or turn over the negotiations to someone else, which will likely mean at least a few month delay in closing the deal.

        IFNY's presentation in New York yesterday included the same slides from earlier setting forth a 3-year plan in which IFNY finalized a partnership in Q1. One would hope that Stan would not be making representations like that without anything to support them.

        Additionally, the first $250k note comes due April 15. Although the highly questionable terms of the last three loans to IFNY might be overlooked if a partnership is achieved Q1, if not, Stan will likely be called to answer as to those loans.