Yes, TRN's answers were considered by the judge to be false and (somehow) a witness for the plaintiff was said to be intimidated. This suit will be back on the docket, no doubt.
gpg39: Wouldn't you think it will take a year or two for WLL to merge its management structure, accounting and engineering staffs and protocols,etc. before they will be ready to take on another acquisition?
I did not believe that either but if you look at the posts last Sunday and Monday after the merger was announced-and most thought it was a take under- were imploring lawyers to investigate the purchase,etc.
Perhaps not you but there were many who were quite angry with Peterson.
I must say that your question IMPLIED you thought the final swap price of KOG would by 13.90. It could have been better worded. GLTU
Yes, isn't it a crying shame that we do not have to post a MENSA society membership certificate in order to post on Yahoo?
After reading your post I have raised my sell price on my shares. I note the two companies report at about the same time.
The thought has crossed my mind that KOG might use accounting gimmicks to downplay its results hoping for shareholders to be more inclined to vote YES for a stronger company. Thoughts?
I give up. What should I read into it other than they are participating in the transaction just as we are. Now it will be more interesting if they continue to receive large stock grants for their services from now to the time the deal closes unless such is already inked into their contracts. That just might be some fodder for the lawyers who right now have little to allege.
As I type, there is a divergence from the ratio of 20 cents. That further than I would expect and perhaps suggest other things expected or in play. Your thoughts?
During the conference call it was stated this is being structured as a non-taxable event. Perhaps that does not assure IRS will treat it that way.
I think the heading of this topic proves he does understand the concept "do you boneheads think you are getting one penny more than .177....
The remainder seems to just be a rant from someone who has put this company down for months while saying he has successfully traded every move in the shares.
Sure, lets beat this deal down! That will really make Peterson treat us better. Its obvious he wants out, the debt is a concern/worry, depletion is an issue to those of us who are not hydrocarbon engineers, etc.
We have the opportunity to grow our shares in a larger, more stable company that can better handle the dreaded, expected by some, reduction in the price of crude.
The only thing I can find wrong with this deal is there is no cash premium. Yes the cut in price from the Friday closing does not sit well.
Think I will vote yes.
From here forward until the deal closes, the share price of KOG will very closely follow the price of WLL based on the .177 ratio.
I am not expecting a competing bid as Peterson had shopped the company for over a year. However, if another buyer was somewhat interested before now and sees the WLL deal as being too sweet, perhaps so.
13.90 is .177% of the closing price of WLL last Friday. Now you can forget that price, just remember the ratio. You can sell KOG shares at about $15 today and still not make a "profit" compared to the later price of WLL. If on the day of conversion KLL is trading at 100, you would get a share worth 17.70.. If WLL should drop to 50, your KOG would have a conversion value of 8.85. If that be the case, selling today for $15 would be wise. Your choice..
Based on this mornings conference call, KOG will increase its drilling program by adding multiple drill rigs within one year of the close of the transaction. This alone sounds like it will add to oil supply greatly. While it will allow the US to import less oil I think it will add to supply in a negative way. So, is the idea to sell more for less money? Seems like it.
Thanks, I did salvage that transaction this morning by selling the 1000 shares at a profit in the pre-market. And if the shares somehow go up from here I will have more egg on my face.
I am trying not to ignore facts. If your projection of BK is correct with $85 oil, have we not been thrown a lifeline? I think the stock should have been worth more but I sure like 13.90 better than far less.
If your scenario plays out (low sustained oil prices, weakening economies, over supply of oil) a floor under the price would seem to look good.
How bad will this be? Won't they be getting the proved reserves which have suppose to have been the hidden value of KOG. Yes, they get the debt also. Was the talk of "cash flow positive" all BS or was it even/ever close? Does anyone follow WLL to give perspective on the future of the company without the influence of the KOG deal.