First, Ray will be missed.
It will take the family a few weeks to figure out what do with the company. I don't expect new CEO. They will decide to sell.
I expect warrants will be bought back for 2 dollars a share. Equivalent to 6 dollars/share. All warrant holders made whole with a profit.
The 8 Million shares exchanged with price of 6 dollars a share. Making all shareholders whole who bought over last few years.
Total cost to aquirer is(8M * 6+ 8M*2) 64 Million + debt. They get all developed/undeveloped properties.
They own adjacent propery to one they are developing with XEC.
This is now a strong buy, hopefully, WTI breaks 100$/Bbl
Sentiment: Strong Buy