Private market valuePenn West just announced sale of higher cost liquids weighted production for $43k/flowing
$28 opX and $8/bbl net back production
these are lesser assets when compared to RMP package on almost every measure but imply a $3.20 value for RMP
Point is, even in this depressed commodity prices RMP could fetch well above $3.20 via a sale/merger
the mister market price is just too low
management's $2.00 strike warrants (from Orleans deal) expire Spring 2016