April takeout As some have already stated the deal is pretty much done with the board of directors in place and the addition of the new guy it more or less just about inked the deal then and there, in my opinion.
As I have said before Borland already sits on the Board of Silver birch energy which is being bought out by Teck and spinning out a company to be named Silver willow.
Silver Willow will have SAGD prospective lands with no present production or approvals to build any at this time, as far as I know. The differential on the SBE Buyout from Teck is approx a buck giving Silver Willows initial value to be 1-3 bucks in cash and land value plus their prospective SAGD reserves. They will need a quick Acquistion to justify raising their share price to advance their property financings over the next 5-10 years, Why did they Bring Sametz Back? Because he has been there and done it got the T-shirt., the SBE guys were Bitumen mining guys from UTS.
The interesting part is where Westface wants to make its money, They already made it on the Buy-out of Silver Birch so in my Opinion they will want to cash in on the sales of their Substantial holding in Connacher and not wait for the longhaul in Riding the develpement band wagon with all the variables, from what Prairie has posted he may be nearer the Valuation than most would think.
All just My opinion
Planet