Dear fellows, the take over price (SOA) is 17 cents for obvious reasons, this is due to the dire state of the company as a result of bean counter deals and massive debt over hang. I guess the OPM strategy may have bitten instead of assisted, remember those 5 P's that Central once placed into presentation lol.
The company is now stuck in quick sand up to its eye balls waiting for some passing optimistic sole to take this bogged down companies hand and yank it from the depth of the quick sands.
But but but, when the extension of the hand does materialise from optimistic entity, it will come with between a 70 million to 90 million life saving agreement. Now, what do you think that level of dilution will do to this already very damaged share price.
Folks can rattle and prattle about what is in the ground all they like, but if the company is up to its eye balls in debt and still requires significantly more financial life support, then this shall heavily play havoc on any optimistic entity making any form of offers.
Based on dire state of company, this organisation in current form will be lucky to secure a $0.28 (cent) take over offer. I would be surprised if MQG does take the matter further, as the longer this protracted review of the dark room information manifests, the more concerning the situation IMHO becomes. As stated in a prior post, we are now about to enter the month of February, 2017.
If the negotiation skills of our company are the same as the bean counter deals, forwards looking gas sales to MQG and the what now seems to be highly expensive purchase of the M field from Santos, good help us all.
By the way, what a difference between what MQG was able to by M field from Santos composited to what CTP ended up paying for it, let's not forget that additional JV commitment that came with the buy, ouchhhhh.
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