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Eureka values pipeline at $370 million and release implys there will be an IPO. Value is 40% of market cap of MHR. Can only see this as very good news.http://biz.yahoo.com/e/120327/mhr8-k.html
The market knows a bad deal when they see one.MHR is paying ArcLight 8% per year for the opportunity to own a majority share in the pipeline, while at the same time gift wrapping TransTex to ArcLight.Gary Evans said this deal would add 2 dollars per share. This deal is subtracting 2 dollars per share.The pipeline is an anchor around this MHR's neck.
Have to agree with you there, bought this for oil, he seems to be intent doing NatGas which is dead...this pipelinedeal, ugh...