mpo merger with arn, page-12

Wiggling,

It all sounds good but, there are many many but's in there. Too many for my likings. Like for instance valuing the new shares at $4.68 per share (If it traded at a market cap of ~234M (4.68 a share) when, as you've said above It is all a big if. And on top of that, we will end up in a company with all of that debt hanging around it's neck which then will becomes ours as well.

For me it is a resounding NO!!. Period!!
Not unless I will be shown all of the figures in black and white, and making my final decision after that has taken place.

You also wrote: "I also Arcan (ARN on the TSX-V) which has been pulverized because of debt. ARN has an enormous light oil base.".
Now wiggling, you are saying that we will end up with " then MPO shareholders would own 0.5 of the company or 1 newco share per 11.4 MPO shares. While on the other end of the equation ARN holders would get 1 newco: 3.92 current ARN. That's 1.19 per current ARN share.

So, and under your suggestion/proposal we will end up with 1 new share for every 11.4 MPO shares, while the ARN shareholders that are in deep strife, will end up getting 1.19 new share for every ARN share. On top of that we will have to bear/share all of the debt that ARN is carrying.

Wiggling, just in case you haven't noticed it, ARN is the one that is in deep troubles and extremely short and desperate for cash, while we are not in debts, we have a good amount of cash, and we are the ones in a commanding position. So we should be the ones calling the shots, not ARN.

Now, anyone that knows business at all, would know that when you are sitting in the throne, you are the one dictating the terms and condition if you are to supply that most wanted cash. Just have a good look around, and see it as it is happening every day of the week.

Besides, if this ARN company is so good and so very promising, why on hell can't they raise money elsewhere.?? And with a total of only 98 million shares on issue, what is wrong with doing a share issue and raise money in that way.???
After all, one could be forgiven to think that, if the company is so solid and so very promising, any prospective investor out there, would fall over themselves in the rush to buy shares.

For the life of me, I can't understand an investor that never showed his face in our Forum before, and now coming out telling us that you have approached our Board and Management putting your ideas forward to them about a Merger, when none of us have managed to do so in the past. A little too weird for my likings.

IMHO, there has to be something more than that, that you failing to tell us.

To begin with are you in any ways or forms at all involved with this ARN Company and, if so, in which way are you involved. Note that I have said IN ANY WAYS OR FORM, and that has a very wide meaning. You could even be a broker or even a Director for what we know.

Until then, it will be a NO NO for me.

As such and until I will see the full proposal with my own very eyes and studying it in full, I will go with Swamy2 idea. And that is to have a good search around at what is cheap to buy, and based solely on the pretence that someone is in a desperate position.

If you want to talk to me and discuss it further......

Cheers
Buddy