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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Peter van Steennis who wrote (88605)	8/2/2007 1:18:50 AM
From: Salt'n'Peppa	Read Replies (1) \| Respond to of 206338

RAL.TO - I mentioned this one a little while ago. ca.news.finance.yahoo.com Rally Energy Corp. to be taken over by Cairo-based private equity firm for C$898M Wed Aug 1, 11:06 PM CALGARY (CP) - Junior energy company Rally Energy Corp. (TSX: RAL.TO) has signed a proposal to be sold to a Cairo-based private equity firm for C$898 million. The Calgary-based firm said Citadel Capital Co. and its oil and gas affiliate National Petroleum Co. have agreed to pay $7.30 per share in cash - a 15 per cent premium over its closing price Wednesday of $6.36. "We believe the transaction, which is at a price per share above our all-time high, is in the best interest of Rally and delivers immediate and significant value to our shareholders", Abby Badwi, Rally's president and CEO said in a release late Wednesday. The company's 52-week trading range is between $6.21 and $6.50. Rally said it does not currently have any outstanding debt. The deal will give National Petroleum an entry into the heavy oil business and its first exposure outside of Egypt through Rally's Pakistani assets. (more...) I bought this one at $1.37 and never traded any. :-) S&P