merger upside, page-26

thanks jt

I just checked out ADN. Rover 1 sits right on the lease boundary with WGR who hold the majority by the sounds. I would suspect that the field needs/should be developed as one entity so a merger would be logical.

If WGR takes out AAG they may sell the Rover assets and concentrate on the CMGP. It would give them the funds to do so. In any deal I would think MLX may then retain its percentage equity in the new ADN/WGR entity until it is developed and then possibly take it over....I think for MLX to take on both projects at once in one company would be too high risk. All you need is one or two cost blowouts and you will start going broke or face delays.