Re: Was Big Sky a "Crown-Jewel Defense"?
in response to
by
posted on
Mar 31, 2012 02:40PM
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Hans: It is your evaluation of Big Sky as a crown jewel which is in dispute here. If it is a crown jewel, then it was given away for peanuts. Let me put it this way, if the "friendliness" of WCX can be put on a scale of 1 - 10, with unfriendly at the bottom (1) as a total ripoff of Tyhee assets; while totally friendly is a 10, where WCX is suffering in order to support its buddy Tyhee, my evaluation of this transaction (at say a 5) gives much more credit to WCX for friendliness than yours does, because your evaluation of Big Sky as an asset is much higher than mine. And I still think compensation was inadequate. Your evaluation of this as half a "crown jewel" being given away for $500,000 in drilling over 5 years makes WCX rapacious and around a 2 or something like that, while I will stick with a 5. Ike.