The big unknown is what a partner would offer or what the board would accept, but it could foreseeably be an offer where we are free carried for at least one well.
Takeover... in theory its easy and cheap but given the board has a blocking stake, how high do you bid to get acceptance?, especially given you need to offer all holders the same.....and to simply buy out the project, leaving a shell would essentially be at the same cost...
TO would be a simple and quick way to excite the market though....
As for there being a lot of farm ins on the market....no doubt they are all different, like comparing apples and oranges...
A good scenario ( my thoughts) would be to have suitors quickly scan the data and lob in an option, which would raise operating cash and stir the market....but, I'm not an executive in O&G, so I'm not able to speculate on how they operate, but at some point, one of them will have to put their nuts on the block and go for it...
EMP Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
