I like the way you have worked this out and I understand your pricing. We have some bloody good assets without doubt. And I agree about the cash position, absolutly correct. Its the first business to be taken care of between the two, so it is important.
As you may know I hold both, as you do I believe. So you would also know how undervalued TPT is at the moment, perhaps by a simular amount to JKA, "this has become a subjective thing". I tend to view this more of a merger than a take over and it brings two undervalued junior oilers under the one roof to create a larger more interesting company.
Not only dose it do that but negates the need for a cap raising for us and asset purchases by TPT. If we did go cap in hand to the market for more cash I believe it would have been at sub 7c and at least a 100 % increase in shares on the register so a simular dilution with out the prospects TPT have.
The market prices these small caps harshly but going forward as a consolidated company we have the makings of a min Genel acording to at least one English analyst. I for one think its a bloody good idea with heaps of upside. As for pricing now, it becomes academic. We should just get on with it.
Thanks for the reply, cab
JKA Price at posting:
8.6¢ Sentiment: ST Buy Disclosure: Held