proposed takeover values shs at a$0.1898, page-63

also, the DTE cash balance represents 10% of the IGAS market cap. They would need to conduct a 1 for 10 offer to get that cash. So really the true cost is 20% of their market cap. It's less if you subtract the 5-10% sp appreciation they received from our deal with GDF. If you combine that with the forward funding from the deal by GDF, they're really getting the assets for close to nothing...not every day that you get to do a deal which costs you no money yet pays down your debt 25% and get assets with exploration costs covered for the next 5 years...well done to the IGAS board, you're getting a bargain...at our expense...Also if you take into account the tax credits from our explorations and pilot losses at Airth and Canobie, they can write it off against their future profits. This is an unbelievable deal for IGAS. It's going to be really conflicting after the deal is done trying to cheer on our new IGAS overlords.