If you know my friend Sara from Triple S substack, you'll be familiar with her Venezuela play of the Lionheart Capital SPAC supposed to have a Venezuelan onshore 8bln bbl medium oil field vended into it (link below). The 40% owner is KEOC.ST in Sweden, which I own shares of personally, rather than the SPAC.
Yesterday KEOC.ST and Lionheart terminated the deal. KEOC.ST is down over 12% on the news, even as their main business is financials services in LatAm with their key partner being American Express and nothing changed in the last 24h. I look at today's share price over reaction as a gift and will be adding it to the model portfolio.
Plans for carving out the oil biz don't look to have changed. This SPAC just didn't work out.
🚨 not investment advice. Do your own DD.
https://triplesinvesting.substack.com/p/a-venezuela-lottery-ticket-for-41?utm_campaign=posts-open-in-app&triedRedirect=true&_src_ref=google.com
Substack
A Venezuela Lottery Ticket for 41 Cents
The first pure play Venezuela US listed oil Company
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2September 1, 2026 451
