re: Ann: PES: AOE Increased Unconditional Off... Stocktoe,
Actually I will correct you on several points before people are misled by stale or incorrect facts.
1) PES has 124 mm shares, therefore excluding the 20% AOE already hold, and extra 36 mm shares will be issued. This dilutes us about an extra 4.5%
We also part with an extra $30mm cash.
2) Shell hold 11%, not 15%
3) The royalty rights PES holds over Tipton West are very minor, worth a couple of million per year (not tens), and capped in total (from memory not much more than $10mm).
4) PES holds no farmin contracts over Arrow acreage.
EL
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