Ok, now i'll be serious.
I think an initial offer would be made at around 35cents. I say initial.
Given a) the sector b) ex mngt walking as they were against offer (at all or at the price) c) utter lowball offer
its very probably a new offer would emerge from a secondary party (non ESG)
Final TO price could be anything. It will all depend on how drilling goes very shortly. If its sucessful, then my $1 becomes likely.
fm
