Agree Jake. IMO just tightening the squirrel grip. Paying 16.5 cents in a PLACEMENT, 33.3% higher than the market price, says it all. BPT are prepared to pay a high premium just to effectively take ADE out of the market.
If the ADE management wants to show that they are being proactive for their SHs, let's get on with drilling the post Permian sections of 218 and 855 and let BPT sort out the shale. Now that would be showing some independent thinking and not just being BPT's lap dog. Have they contacted the operator, ICN, to get things moving??
ADE Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
