JHI acquisition shares and RTO17 Sep 2020 17:09
I expect that JHI will be holding tightly to all their WTE shares if they are indeed intending to RTO into WTE on successful drilling as many suspect. For WTE to pay for JHI shares using its own stock is effectively like a partial merger already. Given that Bulletwood, Sapote and Jabillo are all on the Canje block we could be sharing 3 massive discoveries with JHI in just a few months time so it would certainly make sense to RTO JHI into WTE. In that scenario WTE would have P50 210 MMB net recoverable based on 3 Canje discoveries plus interests in Kanje, Orinduik and Block 47. Quite a prospect.