RE:Stock Value in a merger dealcocomg, thanks, just one thing:
I quote the latest PLATINO - CEDCO deal when PZE paid US$50 million for CEDCO in late October 2014 when BRENT was at $70/bbl.
while PTA produces almost 6 times more than CEDCO and owns almost 6 times more 2P Reserves than CEDCO. CALGARY, ALBERTA--(Marketwired - Oct. 14, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Platino Energy Corp. (TSX VENTURE:PZE) ("Platino" or the "Company"), is pleased to announce that it has entered into a definitive at arm's-length share purchase agreement dated October 13, 2014 whereby, subject to the satisfaction of certain customary closing conditions and adjustments, Platino will acquire 100% of Colombia Energy Development Company ("CEDCO"), for a total cash consideration of US$50 million. The transaction has an effective date of August 1, 2014, and an expected closing date on or about November 28, 2014.
Acquisition summary
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- 100% operated interests in two Agencia Nacional de Hidrocarburos contract blocks (Rio Verde and Los Hatos), and one Ecopetrol S.A. contract (Alcaravan) (collectively the "Llanos Assets") located in the Llanos basin, covering an area of approximately 31,000 gross acres.
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- Oil production (Q2 2014) of approximately 950 barrels of oil per day (bopd) on a working interest before royalty basis.
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- Proved + Probable audited Reserves (working interest before royalty) of approximately 2.1 million barrels of light and medium oil as of July 31, 2014.