POU can take over PMTon a share exchange basis aof approximately 7.5 share of PMT for 1 share of POU for roughly issuing 6 million new POU shares.
net debt is negligible, so in effect POU gets everything, oil sands leases, panny pilot project, east edson produciton and processing plant, deep basin assets, EOR heavy oil assets for approximately 6 million new shares.
sounds like a deal to me??
mind you PMT can continue to shed assets and maybe increase driling at east edson and also expand water injection to increase heavy oil produciton now that oil prices are over 50 wti.
there are options for PMT but if there is no market for the shares because of past performance then a takeover makes perfect sense to me.
POU wins again and gets lots of bank for theri bucks, or shares shoudl I say.
again just speculating here but since Clayton already owns half of PMT shares it would help clean up his holdings into one company, POU.
dyodd