I could be wrong, the shares they got was valued at between 10 and 12 (do not remember where I got that info from and what it was valued at but I remembered the range).
The bottomline and your concern and mine should be the earnings and if the company executed what it should to bring value to the shareholders. As far as I am concerned, the year to date $14m after tax earnings for 6 months should bring lots of value to the company. Its after tax earnings for the next 2 quarters should be in the $6-10M.
Put all those numbers together......we have a stock that is beaten to the ground because of its past (oil price dropping and the merger that causes financial strained). Now that it is all behind us, I see the stock going up. This quarter is a must to show $3-5M of profit. If it does, we should see $15 to $20. If it doesnt, it will continued to be beaten down! And based on my analysis, they should come in between those numbers.