I We are both in top 10 @Ruger250 . Ive got a bit more sitting on this but at that level its the same. I must admit, i thought long and hard about my position and have decided to stay put with the lot.
We have enough money for the two wells and the 3D seismic.
I spoke with a chartered accountant who said to me the sliding scale of money NWE has to pay is related to share registry cost to process the t/o. Maybe theres a kicker for any patsies they had "advising" them. Maybe they would not have had to pay this money if they rejected the bid.
Min is going to need to complete the drilling appraisal, before they try to tap into JV partner for gas plants etc. By then they we will know if this is a 2.5 TCF resource, or if it is a 3.5 TCF (or more) plus oil resource. They will be compelled to get an independent resource valuer to put a number on this. If they want to buy the rest.
MIN looks like they will fail to get the 80%, and so we live another day.
NWE Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
