OTCPK:ARNBF - Post by User
Comment by
rockman998on Dec 03, 2012 10:17am
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Post# 20674777
RE: RE: RE: Re; Takeover
RE: RE: RE: Re; Takeover Cookster9
How do you know the water flood is working well. The way I see it PBN bought the shares as part of the deal to get the farm in. They probably would have been just as happy to do the farm in without the shares.
ARN has $350M total debt and 4000 bpd. At $100,000 per per flowing barrel it's total worth is just under $400M.
less the debt. Leaves $50M or 50 cents per share. If water flood works and they get to 5000 bpd its worth $1.50/sh and so on. Obviously CPG saw something they didn't like or they would have been at the trough. The problem PBN has as they can't do a take over if they are interested without CPG on board because they own nearly 20% and CPG is also less likely move now that some of ARN land package is tied up.