PS And if China gets hold on large supply of cheap oil then China will be setting oil prices not Saudis. Also China allied with Russia - it will end fracking in US.
low oil prices will have a side effect: Latin America's heavy oil much cheaper then Canadian, there are much more profit in LA for oil co's. Mexican oil almost as cheap as Saudi's, Only way for Latin oil to compensate for low oil prices is to increase production.
China will profit from this by becoming exporter of Latin oil, including USA. Canadian heavy oil is too costly at $50 WTI - no profit there.
I am sure China already figured it out: they can take over a big piece of oil market just like Saudis trying maintain their market share by suppressing competition.
Good scenario: Chinese buy all shares they can, give loan get shares for cash, sign Equador contract, Ivan get more cash, ps go to $50. Their portfolio will look great.
it may be short covering after going to 90.
getting ready for OTC
Ivan ( or ?) buying shares so when they offer to buy shares they profit
Just exactly as in public news : no money, no contracts, oil prices low, debt, suggested if I wanted to sell do it soon because Nasdaq may stop trading. what else you want to know branch. And I hold, Fwiw.
I had a vision: Ivan ended up having over 100MM shares out
and getting upgrading contracts from Mexico,
Venezuela, Ecuador, Colombia as their oil cost proved to be
much cheaper then Canadian and China would sell part of Latin oil in the USA. Ivan's cap was 6B+...fwiw
we'll see, a few years ago amrn had nothing except phase 3 of some fish oil in the works and a great CEO who also gave bridge loans and came up with financing needed....why ivan goes with restructuring, could have just folded?
ivan has htl, heavy oil stil the cheapest and oil price will not stay at this level , so...
just talked to IR at Ivan,
shares will NOT be cancelled if they will come up with some kind of solution to satisfy creditors. IR pictured grim situation but he still there....
I stay. Sporting interest.
they say they have to offer something, they had time to marinate some ideas and, I hope
that they came up with a wise decision to fix the problem, I would not know
what exactly they have to offer...