Good posts JFT. Appreciate the thoughts. I do think folks are confusing a sell down price in net present terms with something like was stated on the 10% farm out to PRE. That $2.85 is paid over time and while I haven't run any cash flows on triceratops. On a net present value basis it is much lower that $2.85/mcfg. So when trying to figure out the pps day of SD or cash payable up front...I believe it will equate to a $115-$130/share price...this still leaves the stock discounted to true NAV or what I believe to be close to $165/share for just e/a.
Time will tell ... Just my 2 cents
Time will tell ... Just my 2 cents