MM2,
It's all well and good to look at it with NDO eyes.
Put yourself in the shoes of an RAI holder...what would it take for you to say yes to a deal?
What would it take for the RAI Board to recommended acceptance to their holders, given where RAI and it's sp might be post a Cadlao success?...and despite what Sandy said, Cadlao has a high probability of success having already produced 11mmbbls and been shut in for 30 years.
Can NDO afford a deal that would get a yes vote?
Can the combined cash position (RAI current cap raise unknown) cope with the projected work commitments of both co's for this year, pre Cadlao?...RAI have 2+ wells planned 2H 2012 (excluding Cadlao), we have Aboabo, and Byrne says he's aiming for a second in 2012.
Keep in mind NDO's projected outgo this Q is $12.75M, and we shouldn't expect to see any Galoc revenue til early May.
There would be much to think about, and it's not all rosey.
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MM2,It's all well and good to look at it with NDO eyes.Put...
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