Topic: Growth Stocks

The Stock Pickers Digest Hotline – For Friday, May 8, 2009

Article Excerpt

MASTERS ENERGY, symbol MSY on Toronto, has officially been taken over by ZARGON ENERGY TRUST, $15.95, symbol ZAR.UN on Toronto. Zargon was able to get a majority of Masters’ shareholders to vote in favour of its cash-and-unit offer at a meeting last week. Masters shareholders will get $0.37 a share in cash, plus 0.0957 of a Zargon unit. (The unit portion is based on the 1.475 million new units Zargon is issuing as part of the offer.) At Zargon’s current price, that’s worth a total of $1.90 per Masters share, a gain of over 64% from before the offer. In all, buying Masters will cost Zargon $41.4 million. Masters will add 1,275 barrels of oil equivalent per day to Zargon’s production. Zargon now expects its production to average 10,200 barrels per day this year. Zargon will continue with the $50 million program that Masters estimated it needs to complete its alkaline surfactant polymer enhanced oil-recovery project at Little Bow, Alberta. This process…