posted
/ CORRECTION - Transworld Oil and Gas 11/22/2005 11:29 HOUSTON, TX -- (MARKET WIRE) -- 11/22/05 -- In the news release, "Transworld Oil and Gas Ltd Announces Negotiations for Purchase of the Company," issued Monday, 11/21/2005, by Transworld Oil and Gas (OTC: TWOG), we are advised by the company that the first paragraph should read:
"Transworld Oil and Gas Ltd. (OTC: TWOG) is pleased to announce that it has entered into negotiations for the purchase of the company. The company has received an unsolicited offer for the purchase of Transworld Oil & Gas Ltd. at .03 per share. The company believes the current offer is insufficient, however the company does feel that further pursuit on this purchase offer is warranted and has actively entered into early stages of negotiations for a higher price."
rather than:
"Transworld Oil and Gas Ltd. (OTC: TWOG) is pleased to announce that it has entered into negotiations for the purchase of the company. The company has received an unsolicited offer for the purchase of Transworld Oil & Gas Ltd. Management values the company at .03 per share. The company believes further pursuit on this purchase offer is warranted and has actively entered into the early stages of negotiations." as originally issued.
Complete corrected text follows.
Transworld Oil and Gas Ltd Announces Negotiations for Purchase of the Company
HOUSTON, TX -- 11/21/2005 -- Transworld Oil and Gas Ltd. (OTC: TWOG) is pleased to announce that it has entered into negotiations for the purchase of the company. The company has received an unsolicited offer for the purchase of Transworld Oil & Gas Ltd. at .03 per share. The company believes the current offer is insufficient, however the company does feel that further pursuit on this purchase offer is warranted and has actively entered into early stages of negotiations for a higher price.
About Transworld Oil and Gas Ltd.
Transworld Oil and Gas Ltd. intends to become a worldwide company specializing in the extraction and production of oil and gas. The company's vision is to establish and enhance the company's foundation for future growth by developing properties that provide a balance between short and long-term reserves in both the oil and natural gas markets. Oil and gas related activities will include acquiring additional properties with potential for development and drilling. The company will work to establish and maintain a significant inventory of undeveloped prospects. The company emphasizes production, cash flow and reserve value by exploring for, developing, and purchasing oil and gas properties worldwide. Safe Harbor Statement
They feel .03 insufficient. I do too!!! wwwwoooooffffff!!
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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Are you willing to hold overnight or looking for a quick gain. If we break .0160 I would look for at least mid 2c's on Wednesday.
I guess the co has negotiated a killer deal in Russia with a sizeable break-up fee, and that is the reason for a takover bid. Good Job!!!
Posts: 7 | From: NY | Registered: Oct 2005
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IMO .0150 is way too cheap. We have already gained almost 70% from yesterday's close, and this might be it for today ONLY... Does this news warrant a higher sp? Absolutely. Nobody is willing to sell at this price and the MM are holding on to their inventory. Friday will be the day to sell with the markets closed on Thanksgiving.
Posts: 7 | From: NY | Registered: Oct 2005
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posted
Looks like another great day for TWOG holders.
Buyout must relate to the deal they are negotiating in Russia. Perhaps someone else wants in and is taking them over to avoid paying the break up fee.
The break up fee could be anywhere from 5MM up.. Do the math: 5MM and 80MM OS that puts us at 0.06250 per share. If the break up fee is higher you figure it out...
Just my take on how all the news ties together....
GL 2c today
Posts: 7 | From: NY | Registered: Oct 2005
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posted
Hard to say really. Ups and downs, though I'm expecting news on the horizon. I hold a modest postition, waiting for a pop.
Posts: 190 | Registered: Sep 2005
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posted
They have news about possibly being bought out at .03 per share.
Posts: 798 | From: Malverne, NY, United States | Registered: Jan 2004
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