Recently Magellan Petroleum accepted a cash + scrip offer from CTP for the Dingo and Palm Valley assets .
Magellan want to retain exposure to the assets , gain exposure to CTP's other assets and have decided the best way to do this is to transfer them to CTP for scrip .
I don't think NHC or the other shareholders would have accepted a 20c or 30c offer for Dart .
They must believe that the combination will be worth more than the sum of the parts and have confidence that Igas shares are going to significantly appreciate .
DTE Price at posting:
16.5¢ Sentiment: LT Buy Disclosure: Held