MergerAll jokes aside - This sale to GTE only spells one thing. Despiration. At first i thought it was a terrible deal for shareholders, but it most certainly isnt. PTA was going under, major loss of production over 2 years, no credit line established, bailing hedge-funds, low RLI, over-paid for those 2P reserves, and a highly incompetent management team. The list goes on and on, these are facts. Its a good thing GTE stepped up to the plate to be honest. Saves those of us who either short the stock or go long. The pockets have been lined, there is no other deal.
I will inhabit the GTE board soon after this deal is complete. look forward to continuing our conversations with the new and slightly improved entity. Grandamerica Oil Corp.