Twin Butte Energy Ltd TBTEF

Reignwood offer

[OOU812]

Guess where the $20 million came from for the shareholders? The banks.
They were willing to take a $20 mil hit on their loans to get the deal done.
The reign offer only amounted to $220 million.Twin had close to half a $billion
in tax pools,2000 boepd more production than receivership and yet the offer
was only $220 mil??????????????
Was oil that much lower when Reign made their offer(end of June)? It was quite similar.
https://www.indexmundi.com/commodities/?commodity=crude-oil-west-texas-intermediate&months=12

Now subtract most of the tax pools and 2,000 boepd of production
 and how in the world did we ever get a higher offer.

Had it not been for the ad hoc group, Peters would've been the only selling agent.
That didn't work very well the first time.Thanks to the ad hoc group CIBC was also used.