"To be or not to be..."I think, there is no point on blaming FrontFour as if they had forced this shareless Board to make this deal or participated in ALX penny financings. I've also read a lot of posts here bashing the young Nuttal and others. Learned many years ago that buyng on tips seldom works.
Lets talk real business... For those struggling to make a decision to sell your RPL or to keep it and stay with new Spartan (SPE), that is "To be or not to be...", try to put together a comparison table if you have answers to Questions below.
Lets say you own 100,000 shares of RPL. The co. is producing ~5,800 boe/d, ~205 million shares outstanding and $150 million net debt.
You don't sell. You take a long vacation and let this transaction approved, and all fully diluted shares consolidated and become SPE, producing about 6,100 boe/d.
Q.: How many shares of SPE you will see in your account? What is the total number of shares outstanding? What is the net Debt?
As I said before, I do not understand ALX equity and warrants, etc. and the numbers posted here had a wide range. For those who do and can put it all correctly together, it will help in our decision what to do next.