Why A White Knight?I think that share holders simply need to stand up for themselves, and say this deal stinks, and they want an indepenant evaluation done.
Condensate is almost 62 dollars, you could hedge likely at 60 for all of 2021 and VII generations would be spewing out cash.
This is a deal is criminal, and third party should be brought in the verify the fairness of the deal as a boe of condensate does not have the same value as a boe of gas or the gas liquids that ARC produced in Q3 that fetched 10 dollars a boe.
To that point VII generation reservers should be worth a lot more. They are trying to concel the facts and push the deal through. Gas reserves are not worth much.
Where is the fouth quater numbers to compare with Arc's, let compare reserve reports, this is nothing short of dishonest.
The deal is not done, and you don't need a white knight you simply need to say not, you will not be exploited like this, the deal is not done there is still a vote. You can back out of the deal anytime before the vote and if the economics change, why would you vote for this rotten deal?
I would like an independant third party, not their banks, but Peter's or Canoe.
The Shareholders should stand up and say NO to this deal. We need an independant evaluation with current commodity pricing.
The problem is that saying no your still stuck with the same rotten leadership.
IMHO