Just food for thought peoples - market cap even with a buy up...

Just food for thought peoples - market cap even with a buy up would still be under $100mill for a 65% share in a fair amount of green potential dirt. This is still flying well under the radar - look at the SP of both MKE and TSV. The market will wake up shortly but the below takeover description highlights that the big boys are out to play at Duverney!!

Just my opinion - DYOR!!!



Sinopec to Buy Daylight Energy for $2.1B

China Petrochemical Corp., the nation’s biggest refiner, agreed to buy Daylight Energy Ltd. (DAY) for C$2.2 billion ($2.1 billion) in its largest acquisition this year, gaining Canadian oil and shale-gas reserves.

The state-owned company known as Sinopec Group offered C$10.08 a share in cash, Calgary, Alberta-based Daylight said yesterday. That’s 70 percent higher than Daylight’s average price over the past 20 trading days and more than double the average 32 percent premium for comparable cash bids for North American energy explorers, data compiled by Bloomberg show.

The deal would give the Beijing-based company access to more than 300,000 acres of land in areas rich with oil and natural gas, adding to its expansion outside Asia after falling crude prices made valuations attractive. Sinopec Group and Cnooc Ltd. (883) are among Chinese companies that have bought almost $30 billion of Canadian assets in the past five years to meet energy demand in the world’s fastest-growing major economy.

“Sinopec made a number of oil-sands acquisitions, and this is probably the most gas they’ve acquired in western Canada,” Neil Beveridge, a Hong Kong-based analyst at Sanford C. Bernstein & Co., said by telephone today. “It seems that Sinopec is potentially eying longer-term development of those for liquefied natural gas exports to the Asia-Pacific market, building on what Canadian companies are trying to do.”