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On March 19, 1998 at 8:00 a.m. Saba Petroleum Company schedule a telephone press conference for march 20, 1998, hosted by Ilyas Chaudhary, CEO and Alex Cathcart, President. The company will discuss the proposed combination of Saba Petroleum Company and Omimex Resources, Inc.
On March 19, 1998 Saba Petroleum Company and Omimex Resources signed a preliminary reverse merger agreement that would excluded Saba's assets in California, which will be spun off to Saba shareholders.
The companies expect closing of the transaction to take about three months.
The management of Omimex will assume management of the combined company, which will be publicly traded etc..
My question is what all this means for investors hoding Saba's shares.
Thank you
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