GREY:TSCAF - Post by User
Comment by
Bigbadoilon Jul 11, 2013 5:48pm
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Post# 21602842
RE:RE:RE:RE:merger
RE:RE:RE:RE:mergerIf he did that then he would have to buy the other 25% shareholders out. Perhaps he doesnt want it use more cash?
The NAV is past history- the upside is in the undrilled low risk development locations on the Macklin property - probablyover 15 right now and will increase with drilling. Alot of them have no value atttached to them in the reserve report. Better that the combined company drill these and acquire the value going forward (all 100%) of this.
As i said before the Heavy oil price is very favourable now, almost 2* what they were getting at the end of 2012. If you run the NAV on the new price deck, the NAV's for both companies would be significantly higher now. The Dec 31 2012 NAV is ancient history.
I am a Tuscany shareholder, we have all taken a bath here (including Bob). I want more drilling and this merger is the fastest way to that end. With drilling, signifcant value can be added to the new combined entity.
Bigbadun'