TSXV:VER.H - Post by User
Post by
operator5on Apr 13, 2011 2:36pm
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Post# 18426052
Coffman
CoffmanHow much does Coffman own of US Vecta? How much does US Vecta own of VER? How does US Vecta own more than 50% of VER? Right now, as I read it, US Vecta owes 100% of its Alberta Bakken holdings and VER owns nothing, right? If this is a bad deal for VER, VER shouldn't do it. If it is, it should. Is this a bad deal? Being simple, it seems like an acreage acquisition of 60k net acres, 1 net vertical well and 1 net horizontal well, and some acquired seismic data to VER for $32 million all in. That equates to what? $3 or $4 mil in net drilling? $1 mil in seismic? $27 mil in acreage or 450 bucks an acre? It seems to me that it comes down to "is this worth 450 bucks an acre"? Am I missing something here?
Then, being that they have some undefined assets otherwise, raising the money on that basis that gives them some sort of interest in the package. I am interested in seeing what the terms of the financing are, and then I will be able to calculate what my basis is. If financing is around the current stock price, then it would be hard for my basis to be below the deal basis.