Properties will sell for the amount listed in the PR if they sell at all. I think they are still tainted from this lawsuit and someone will get a killer deal.
Ron, I think you are right. The only way the plantiff's would sign off on this deal is if they had a buyer for the properties that is ready to meet their price.
Clearly the key here is the value of the properties. It seems a long way to have come for the small up front cash payments.
I don't know what they are worth. It does appear that will be determined in the oil patch by oil people as opposed to by lawyers, which may be a good thing. Those that expected to be simply given a large check in the next couple weeks will undoubtedly sell and move on. What value there is here will take longer to unlock.
I agree with others who have posted that today's volume does not reflect a total dump. More likely it is those looking for a quick cash payday moving on.
My sense here is that there is still another shoe to drop. I am hoping that is not just wishful thinking.
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