RE:RE:The Way Ahead?Ditto. I like the sale. I like the idea of splitting it off.
But the assets are being stolen. The NPV is largely based on a $60 WTI price that make the assets look worthless except for a couple years production value given to the PDP.
The low NAV allows for the massive dilution as everything is based on a $0.35 valuation. No one would get these assets for $50M in an M&A deal but all this money is raised on that valuation. The money being raised is this ludicrously expensive and being given away to insiders and preselected investors.
Also investors need to elect whether they will execute the warrants by July 17th. The 5 years is on the private financing warrant.