Most likely for WGO at least given the lack of operatorship and control over the gas asset. As per Gimo's picture above, it still makes sense for them to take out STX and control the entire middle corridor of prime PB gas fairway. They are using scrip to acquire NWE, so he still has quite a bit of gunpowder to use for future acquisitions.
On face value, the deal values NWE at just over 400mn. Even assuming that LD-1 alone will have 2P of 500PJ, and the entire block (including Rococo) has 2C+3P of 1500PJ, it means NWE has net 2P of 100PJ and 2C+3P of 300PJ...
It ain't cheap, but MIN is obviously extremely confident of converting a lot of the contingent resource into reserves.
618
MIN To Acquire NWE (1 for 1367), page-6
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