Bowood Energy Inc V.BWD

AFE?

[natureboy16]

I suspect that Legacy has likely given Bowood an AFE for the next well.  At this point LEG will be getting the science right.  The chances are good of a b arn burner type well.

 

The best that BWD may do is to sell to LEG - and they know it.

 

JMHO

 

nb

[sureshotz]

Nb - I thought about this. BWD capital commitment is 2-3mm on the next well. What's another 10mm shares out for the potential upside? Not much. Especially with much of the science understood and with 3D shot. I think BWD is wisely selling LEGs technical prowess as well as the land position. I have a feeling LEG may not be all to impressed at this juncture with BWD. More then meets the eye here

[natureboy16]

I would gladdly take LEG  paper in a TO deal.

[sureshotz]

Re-read my post and think about this one gents. If you were BWD and the next well was not forthcoming until June - what would you do? You would do exactly what has just transpired. Force the hand.

[sureshotz]

Further to my last post - did anyone ever ask the question of what happens when LEG owns a 50% interest in 8 sections? I would guess that BWD can serve drilling notices to LEG and vice versa. Perhaps this is the reason why BWD is looking to recapitalize...... Time to get gully. I hope LEG enjoys the slap on the pee-pee