Independent of a takeover, half of the producing assets have been shown to have a market value of more than the current market cap. We still retain the other half, so it is hard to see how this transaction doesn't imply a value of at least double the market cap. The market has literally spoken, I think the SP response (to date) reflects market skepticism of CTP but really ignores the cold hard cash and additional value from this deal. Roughly halving the debt in itself is a huge improvement.
Ann: NZO:Proposed Acquisition of Central Petroleum Amadeus Assets, page-14
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