Bridge Resources Corp V.BUK

share price

[JETS7]

   iam postive that buk when they unload their north sea assets, they will retain a % of steamboat and maybe some of the other fields. This to me gives buk an edge on share value. The other thing that i have thought about, is someone could just bid for buk.    


                                          just food for thought

[Toasted2]

Jets...I agree...Steamboat is definitely worth something, but the primary asset is the joint venture assets of these two companies (BUK/PXM)...My only question was...Does Steamboat justify the $30+ million market cap difference between the two companies? (thats the premium BUK has been trading to PXM)CheersT2

[Bigbadoil]

The market is saying the value of the North sea Gas assets (Durango producing property and lands) +Steamboat is worth more than the net debt of the company. I.e there will be residual value when the sale is completed.If they retain some sort of override and/or net carried interest in Steamboat after all is done plus some cash to aid in Idaho drilling, they will havea nice story.Gas has alot more