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Clarion Finanz shows Merrill the way..

May 6th, 2008 · 2 Comments

Clarion Finanz turns out to show Merrill Lynch how thing must be done in a partnership. It has converted it’s part of the debt into equity, with a conversion price of $22.65, a price we’re rapidly approaching.

This shows they can only be very confident on the drilling at Elk4. It’s a very bullish sign, there is just no other way to read the situation. The fact that Merrill hasn’t done a similar deal (yet?) distracts somewhat, but not a whole lot, it probably indicates that they are just a little more greedy than Clarion.

Since the three of them have a common interest, Liquid Niugini, the proposed LNG facility, that’s not the way things are done.

Tags: IOC

2 responses so far ↓

  • 1 roberto // May 6, 2008 at 3:52 pm

    dear sirs, could you explain a little about just what type of shares these were in this ‘equity’ deal and where did they come from. thanks

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