Painted Pony Pete Ltd PDPYF

RE:Kudos for Norm MacDonald

[marketdiva]

Whampoa wrote: He obviously been through similar situations.

Not only the comment about PPY at 1/2 value.

ie   PPY @$ 5.60 is $19k EV/ boepd 
     PPY @ $12.50 is ~$35K PPY EV/boepd  (benchmark equiv to this acquition)

Off the bat he is already figuring out what it takes to challenge against. Kudos

I did my own calculation, and result:
what a waste of time, talking $$$$ money (with an O'Leary tone)
to shake out enough shares to reach guarenteed YES outcome.

Do your own DD

At the numbers I am getting, PPY could do better by drilling and completing 
> 30 wells

Two paths
1) The attempt to shake out enough shares for YES  is very expensive

2) Better use that money is to 
bid the share price up to where majority of
excluded shareholders like the funds will be happy again so
they dont vote NO

ps  get back to work drilling wells, 2.0 recycle ratio not going happen watching the screen all day

Chit if I was mcap and arc I might as well buy up ppy now and turn the whole story on its head ....41m shares ....umm we own 61m now 41m at 5.60 and 20m from 5.10 - 5.80.....keeerist