if this deal goes through holders are looking at very close to 12 cents cap return. Decent return at current prices with a bit left in the bank.
I don't think the sale price was bad. Blackspur never lived up to the hype and was purely dependent on high oil prices.
The problem to me was the sale price of montney. We had holders saying CE1 was worth north of 50 cents and now it's been sold for a fraction of that.
Ann: Cash Sale of Blackspur Oil Corp for A$83.3M, page-64
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