tpt to takeover jka at 11.2c per share, page-28

Crows,

Thanks for the info - so this drill should cost TPT nothing?

(Although Hammamet West-3 was supposed to cost COE nothing and ended up costing them more than $15M - hopefully that won't happen here with an experienced operator!)

In that case I am more optimistic. I still think the well is highly likely to fail, but if the $18M is uncommitted cash then the match-up makes sense.

Might I also point out that some of the TPT boys are a little skeptical and think you guys got the good end of the deal, they may be wrong, they may be right..

I have no doubt the JKA holders get the good end of the deal in terms of the market caps of the two companies. We go from 33% holders of the individual companies to 50% holders of the merged company.

But as I said in my very first post on this thread, "TPT shareholders get a bit shafted with dilution, but I think that shows that both companies recognise JKA is the one with the bigger potential."

All in all the match-up is fair to both sets of holders IMO. I have just been trying to avoid stocks like TPT for the reasons I mentioned before - I don't like it when I have a 20% chance of a good result and an 80% chance of losing it all. Even if the 20% chance comes off, they tend to get bought out quick smart, and you don't make the 10-bagger you were hoping for.