GREY:QEXXF - Post by User
Comment by
elgaveenoon Aug 03, 2016 1:41pm
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Post# 25107024
RE:Half of production sold for $11,428 per boe
RE:Half of production sold for $11,428 per boeI has the numbers wrong, based upon the incorrect QXP press release, where the 12.5% of the seller's shares should read 12.5% of the purchaser's shares. So it was just QXP that is eating $4M shares at $0.50/share. The purchaser only spiked up ot above $0.80 in 2013 and since then has traded for around $0.05 up until it was pumped to dump up to $0.11 just before this deal was announced. So let's be generous and say the purchase price was $8M+$400K=$8.4M.
QXP somehow takes the abandonmnet liablity of $12.5M and treats it as an asset when cacluating the deal metrics. That's just bad math. In fact the purchaser is trying to get financing of $8M for an asset with $12.5M worth of liablilty.