Some Positives
Not happy with the price GLC is getting, but at least PMI is a very solid company and at the current exchange ratio of 0.3736 shares we get, .06/.3736 = we are getting PMI at 16 cents per share.
Now the deal doesnt close until Q4 and there are some shares coming to market around then which is a bit of a negative, but after looking at PMI they have a very busy work schedule and it seems that we could very likely receive very high impact news in the short-term from their current well. So the closing date may lose its relevance if the well being drilled with Shell is a success.
Hopefully they sweeten the deal a bit by increasing the share ratio, but Im pretty happy with the prospects for PMI. At an equivalent of 16 cents per PMI share (currently .20) there is no way Im selling and throwing away my shares for someone elses profit down here.