If we get a $3.10 buyout and they hold onto 10 cents a share for the new CUU2 then that is 40MM in cash, which should go a long ways for drilling in a more affordable environment.

I’ll take the $3/share as a special dividend or split as cash + shares.

I will value CUU2.0 at its cash value for conservative purposes. Therefore, CUU2.0 would be 10 cents a share. A 10:1 reverse split would then value CUU2.0 at $1.00 share with approximately 40MM shares outstanding and a fair bit of cash to work with (no further dilution for a while).

So long story short, I would let my shares ride and see what Elmer can pull off. I would have received the majority of return already.