RE: RE: NARP & Quantum Energy Partners I hope we still get Kipp news soon. I'm happy that they put out the for sale sign. The land is good but the play is so complex and expensive that it is way beyond the capabilities of BWD to even participate in development. I think the 0.40 cent target that Haywood has is fair. To handicap the running I would say Legacy is number one, Shell number two, NARP would be number 3 and Torc would be number 4. Crescent Point has enough on its plate, Argosy is too small, DTX has enough going on between Western Alberta and there own SAB lands. Each of these perspective acquirers has pros and cons. Legacy would be an all shares deal and allow us to continue to participate in the upside, Shell would be all cash so we could exit cleanly, NARP would be the same as Shell, Torc would either be cash or the liquidity event. If it were the TORC liquidity move then I would say that long term it would probably be best for us.
Was the share price drop today because the market didn't like the move? Or had the news been leaked or news that something was happening and there was a run because of that?
At 0.40 cents the deal would cost whoever 109 million but they could get some money back by selling the other assets. Hopefully there is continued good news from our neighbours and the deal can be consumated ASAP. I want closure on this story.