merger, page-3

There is a lot to like...the rerating was underway prior to the merger which threw a spanner in the works and it took a dive....prior to this there was a string of good announcements

1. increased production
2. increased reserves
3. got their own finance
4. increased operating efficiencies
5. unhedged (depends upon your view)

I think they've been a bit unfairly treated by wanting to make a small coy large. I've picked up some today at 20.5....although I may have been a bit prem...probably wait now to we get a clearer signal ...or line up lower down

I looked at IBR last week as it was starting to look like a cheap entry - 4 for 1 merger...certainly someone thinks it cheap today at .76