RE:RE:3 month window The BoD will most certainly NOT take a lowball offer. $3 USD would equate to less than a $500mm offer. That is an absolute joke not even worth considering.
The trick of the majors is to attempt to screw the retail investor out of their shares whilst the shares are trading near their lows by offering a small premium above market price. Bassawkwards institutional voters and the penny flippers fall all over themselves to get a piddly gain and will usually vote yes to their and our detriment.
We need our BoD to be a bulwark against any lowball offer foolishness. We don't have a whale such as Paulson/Kaplan/Sprott on board to defend us. We have Paul & Dale, etal. Our saving grace is they've done this rodeo before and know how to hold out for the big payday.
I get what you are thinking: an initial offer will get the ball rolling and we will end up with the double digits we all (sans Sooner) are expecting. But what if it doesn't pan out that way? I would prefer any offer at some future point to be legit and worthy of consideration, otherwise why waste the time of Paul and insult his intelligence?
If a suitor isn't willing to come to the table with a minimum 10 digit figure offer, they need to go play ball with a smaller project that is up their alley and budget.