RE:RE:RE:RE:SizeI think too many variables that are not public knowledge to even do a very good guessimate on equity exchange and value if BNE and Rico could ever agree to terms.
IMo I would guess BNE has better reserves than Rico, BNE would have way more wells drilled after 2015 than Rico.
ARC ran those assets at 10k that Rico has when they were putting some capital in but once they bought 7 generations they lost interest in cardium. Only so much resources.
BNE realistically likley has to do any type of deal with little cash offered. I think how get people on board if any equity has to be issued in a buy of some company is an instant divy.
Entrada is drilling a fairly important well right now. A 3.5m - 4m dollar well get's more material to a company smaller it is.
I also wonder if BNE was 20k boe plus in size, would new opportunites like building own small NG power plant make economic sense.
The downside of power plants is the cashflow payback can be like 3 years but with NG so cheap it helps economics of using NG power to power electric pumpjacks. Also probably more opoorunity to focus on new waterfloods or potential.