Ann: Trading Halt, page-167

my two cents

i believe the t/o should be around $600 m m/c

with the soi that would be $2.46 a share approx 3.4 times the current price.

we know from past experiences for a company at this stage a reasonable value is not likely and an offer will be unders most likely 30-40% up lift which is not a goer

if you are a smart suitor though you are going for a knock out blow and not a two strike strategy as you dont want to give time for anyone else to pounce.

anything less than $600m m/c in my view is not worth it as we will be close to that s/p soon anyway with drilling coming etc