This seems a good deal for UIL and has been well received by market - up 23% to-day. I can't work out what ENB's SP should be - it seems the initial offer of 1 UIL for 5.5 ENB means approx SP for ENB is only about 0.008 which can only increase if the 1st well is successful. Yet ENB has a buyer @0.016- overpriced??
