With all the talks or spread of takeovers in recent times I am...

With all the talks or spread of takeovers in recent times I am just curious to why would anyone pay like $200m+ for this company.

A much easier and cost effective way is to purchase the debt for $USD42.5million. Lets say if MAE cannot repay this debt by the extended date then you can just take the asset and leave with shareholders with nothing.

If the assets somehow get the flow rates of like 20 or 30+ mmcf then you can always convert the debt to equity and make a killing anyway.

When the bank extended the debt I am sure its because they were not sure even if they sold the asset they would get their $USD42.5million...or even a buyer where they can get most of this back. I am sure if you call ABN AMRO (I believe this is the bank) and offer them the full amount for the debt they will take it.

Does anyone know what is the overall debt position (I know the priciple if $USD42.5million)? Does anyone know how much interest MAE owes the bank as well?

Even if MAE does have gas flows of 5mmcf, at current prices on the Henry Hub, this is not profitable, so MAE cannot repay any of the principle. I am not even sure if MAE can even repay on some of the interest yet.

If I was a predator I would not even talk to MAE management or even consider their shareholders, I would just walk straight to their banker. May sound harsh to shareholders but that is business...its only about the money.

What are others thoughts on this?