I3E I'm an I3E shareholder - I posted a couple of concerns that Toscana SH had with the proposed I3E buyout - I got the following response from the I3E LSE message board. I would be interested in any thoughts / comments.
"Toscanna had a fairly long farm-out type process and failed to find a buyer. Market conditions changed and i3e jumped in. Ultimately though, we are paying 3.5m for 28m debt - with that debt, the asset is not viable. They have to sell and while some Toscanna forum goers may say they are voting no, I think most of their serious investors will vote with the board. There's no conflict of interest, the deal is approved via fair play procedure and given a 'fair value' rating.
I think with oil price showing signs of recovery, this looks to be a really good addition. The mapped out organic growth will help to stablise and push the mcap with a constant stream of news."