Possible Motivation for ODD bid by VetraThere is a Sedar filing by Suroco where they mention items "not yet disclosed to public" that Vetra is aware of at the time of the offer. The main item being this ...
On June 5, 2014 logging of the Quinde-7 well, which was drilled within the Suroriente Block during May and June 2014, was completed. Initial analysis of logging data indicates 22.1 ft of net vertical pay within the N-Sand as well as oil shows.
I don't think this is enough info to warrant a shoddy competing hostile bid, however they were already interested late last year, so this may have been enough for them to try and delay the PTA arrangement until there is more info to make a higher bid. It would not surprise me to see them make a higher bid. I do not think it will work, as SRN management has locked up 21% of shares, and it is in their best interests as well ... plus Im sure they want to keep an interest in the assets as they know their potential best.
We'll see