Looks like Signal Energy is being taken over by Pearl (PXX).
Was the private company a front for PXX or was it an entirely different company?
If so, can we expect a bidding war?
Will they be talking to PTR re Redwater?
Rough back of envelope calculation -
SGI boe = 600; PTR boe = 245 (just counting Frog Lake, RW)
SGI mkt cap = $70M (per Stockhouse); PTR mkt cap = $11M. PTR 38M shares o/s.
(245/600*70M)/38M shares = 75 cents.
Of course, they are other factors - cash, other assets, etc.
Another metric per Mr Curr at the AGM - it was mentioned that companies-in-play are being valued at between $50-75K per barrel of production -
so $50K*245 boe = $0.32;
$75K*245 boe = $0.48.
Things are fluid right now. I'll certainly be using the edit button.
Disclaimer - These are my figures and calculations - I could be way off the mark.