The company would not be looking for a takeover, holusbolus, I presume.
It would be more interested in the sale of its Lease/wells/AOI - whatever its called, the jargon escapes me.
It would then use the cash to go and buy more leases, drill, HBP, prove up a reserve etc. Sell, repeat.
Why would it want a TO now when it can continue its business model under the existing business structure, selling off its assets as they come to fruition and restart the process.
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