RE:RE:Twin Butte Energy, look it up. Still voting NOIf I3e buy all TEI shares. I3e need TEI cash flow to absorb his cah burn.
I3e has to increase his offer to 0.365 share of I3e per TEI share to be a fair offer.
At Average daily production 1000 (boe/d) at 35$US WTI, net back min. 18$Can per boe
TEI without finance expenses, it is 900,000$ per quarter and with the tax assets (130M$Can) to apply against profit. That means no income tax to paid on the first 130M$Can of profit.
Fund flow per year 6 575 000 $Can = 18$Can x 1000x 365 days
That fund flow is the minimum I3e shall give to the TEI shareholders, it 13 times the actual offer of .0281 I3e share per TEI share.
Therefore a fair offer is 0.365 I3e share per TEI share.
If WTI is going up to 55$US, TEI fund flow will be over 13M$Can per year
If I3e increase production at 2 000 boe/d at 35$US WTI, fund flow is 13M$Can per year