Twin Butte Energy Ltd TBTEF

RE: Intermediate Action

[bshort92]

Was a little loose with the pro forma numbers on that proposed GO/WFE merger to be re named Long Run Exploration. Pro forma debt for the combined entity is $430 million, acreage is actually 1.8 million acres of inventory and reserves is 100 mmboe. Candidly Bill Andrew and team have their work cut out but consider earnings last Q of close to a $21 million profit at GO combined with a $29.5 million profit at WFE. You make $50 million plus profit every Q you can create a great outfit going forward. So back to TBE: With lots of prospects on the block in the Lloydminster heavy oil corridor from Frog Lake to Primate and everything in between... I can see another potential move in the future once the Avalon deal closes. Just watch that balance sheet...cognizant of debt levels, keep the dividend intact and don't severely dilute the 220 million shares out.