Was just reading the new takeover offer from BOW for Roma and just realised that RPM has no thread
Quick background history
May 2007 - Feb 2008 RPM traded between 4c - 6c
May/June 08 QGC Makes a takeover offer for RPM 18c-20c
"The implied value of the QGC offer, which is 50 per cent cash and 50 per cent scrip, is 20 cents for each of the 254,700,311 Roma shares, valuing Roma at about $50.9 million (based on the 10 day volume weighted average price of QGC shares up to the date of this announcement of $5.66).
Under the terms of the offer QGC would pay 10 cents in cash for each share in Roma, as well as a QGC scrip component of 0.0177 QGC shares for every Roma share."
July 08 BOW makes a new bid = around 25c RPM
What this shows to me is that the sector is still red hot and is definately one of the places to be
Interesting how BOW have stated this
Bow director’s believe there is a large Coal Seam Gas (CSG)
resource within PL 171 located in the Walloon CSG Fairway in the Eastern Surat Basin – Bow believes this is QGC’s primary reason for bidding for Roma.
Given the new bid values RPM at $62m approx I wonder exactly how much CSG there is in PEL 171?