RE: Finance pricing $0.65 and $0.75 More importantly is what they do with the private placement dollars. We know that they are going to go after a high impact well in the Pincher Creek Area soon. Hopefully these dollars will be used to keep the spoils rather than share the risk & reward in a JV.
Not sure how many people are fimilliar with the prodution in that part of the province. If you look at the production data for the wells that Choice owns you would see wells that began production in the 10mmscfd to the 20mmscfd range and have now been producing for 20 to 30 years (granted they are now only flowing 1mmscfd or less). If you look at Shells production a few miles to the West it is even more prolific. I guess the point is if they manage to find and drill a moderately prolific well for the area - say 6mmscfd that is an additional 1000 boe/d which has a very very high reserve life. IF they hit the home run with the well we will be over a buck even with the dilution. (by the way I'm not implying that they could hit a 20mmscfd well. I would assume the low hanging fruit in this pool is gone. but it is always fun to dream).
Good luck to all.