QGC is getting a bargain here. New high flow oil fields and a big gas field for next to nothing. Would have loved to have taken the Bow deal since they had the vision for growth and saw the oil potential but they were shut down by RPM directors. Staying in to make sure QGC pay more to get control - see that Bow has over 7 percent and are not selling so only need extra 3 percent to block since QGC can't book RPM reserves or take RPM cash until over 90 percent. Will be taking up my rights too so they do not dilute. They should pay a premium to get control. When offer closes they should mop up those that hang in for premium since will not cost them much more and they still get a bargain.
RPM Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
