Connacher Oil & Gas Ltd CLLZF

My Call is $2.50

[birchjunk]

I am hearing it will be an all cash deal and  sufficient to avoid a poison pill.

Actual hard value is above the $4 level but I think that $2.50 would get the job done.

I base this on 16,000 barrels per day of production at the peer value of $75,000 per barrel for long-life reserves ( 25 years for Connachers ).

This provides for a $1.2 billion offer or just above $2.50 per share.

This would still be a steal ( just $2.40 per 2P barrel ), but it would receive shareholder approval.

Check the recent TO of Daylight.

They got $16.70 per 2P barrel.

I agree with others.

Rothschild would never bring an offer below $2 per share.