Big news on the Lion Oil front where the rumors have finally come to fruition with a new Israeli-based company taking the majority shareholder position out of Ergon Inc.’s hands.
See tomorrow’s News-Times for more information.
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Trying to be optimistic, but …
This is not good news for some senior management at Lion but there is no reason for a company to take over an asset that is making them money now and more than doubles their production and transprort ability and do anything that would in the long term hurt it.