Two things have to happen for a deal to be done. The buyer has to offer a price that is acceptable to their own shareholders and in our case the majority shareholder CW Ahlefeldt-Laurvig has to find the offer attractive enough.
The current SP doesn't come in to the equation at all. It seems that CWAL has had his intital loan to the company repaid but since then has received no other reward other than director remuneration. What ever happened to ALPHA 2000's investment I don't know and of… Read More
The numbers might give a clue to the value of EOG but it would hurt my head too much to do the maths. Interesting that they are acquiring properties though. Vermilion also holds an 18.5% working interest in the Corrib gas field in Ireland next to our latest licence awards.
If I were a company seeking to put in an offer for EOG the first thing I would do is snap up loose shares at a discount to the eventual premium I would have to pay for the remainder. The indications are at present that a single buyer is hoovering up the overhang and sooner or later will cross the threshold where the need to declare their interest.
Of all the possibly interested parties, Vermillion is the most likely candidate. There could be others of course. Bear in mind that collapse of… Read More
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