MAE's balance sheet has the value of oil and gas properties at around $176 Mill from memory. If you read the document posted here a couple days ago the lawyers quote that they doubt the valuation of the oil and gas properties is anywhere near that value due to the fact its never produced and has consistently failed to live up to expectations.
So $200 Mill definitely not. They have $56 Mill of debt so anything after that would presumably be divided up amongst equity holders including KM etc.
IMHO the value of the oild and gas properties is probably 50-70 Mill if that.
The court documents are clear that they have tried to sell for the last 2-3 years with no buyers, what makes you think people are lining up to fork out cash for a asset with no production and questionable potential.
MAE Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
