Post by
perdikaoilgas on Sep 03, 2014 4:18am
STREAM OIL is acquired at C$0.67 !
A very good return for those who bought SKO when I recommended it below C$0.5 a couple of weeks ago.
I also recommend Petroamerica (PTA) at C$0.4 - C$0.41 per share.
PTA is a strong buy at these levels.
I quote:
On a per share basis, each common share of Stream would be exchanged for 0.05657 common shares of TransAtlantic, which values each common share of Stream at C$0.67 per share based on TransAtlantic's 10-day volume weighted average price ("VWAP") of US$10.89 as of market close on Friday, August 29, 2014. The C$0.67 per share value represents a 43% premium to Stream's 10-day VWAP of C$0.47 as of market close on Friday, August 29, 2014. The agreement provides that C$0.57 per Stream common share, or 0.04812 common shares of TransAtlantic, would be issued at closing and an additional C$0.10 per Stream common share, or 0.00845 common shares of TransAtlantic, would be issued in the event that certain amendments to Stream's Albanian license agreements are received within nine months of the closing date.
Read more at https://www.stockhouse.com/news/press-releases/2014/09/03/transatlantic-petroleum-announces-agreement-to-acquire-stream-oil-gas-ltd-for#oi11rzqQqXf5OhmB.99
Comment by
dublebad on Sep 03, 2014 7:36am
This post has been removed in accordance with Community Policy
Comment by
Jovica on Sep 03, 2014 10:01am
Trading volume is way too low to confirm this real takeover deal.
Comment by
naive_investor on Sep 03, 2014 10:31am
Just speculating - Bankers could bid up and come up with a sweeter deal, say 80 cents a share. They know the area and they need gas, which could entice them if they think Stream's assets, specially gas assets are really valuable.