Question When you think about the remaining LEG earning commitment here; 14 wells remaining at 80% of the cost it really makes you think.
Assume $5mm per well = ~$70mm total cost, 80% of which is ~$56mm.
At present, BWD EV is ~$43mm.
So here's the question, why would you pay $56mm to retain 50% interest in the properties when you could take it all for say a 30% premium on the share price or ~$55.9mm. Especially since PIE is trading at an EV of ~$98mm
Interesting situation?