GREY:BXEFF - Post by User
Post by
STVPon Oct 12, 2011 2:56pm
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Post# 19142399
Take out Target
Take out TargetBXE could get a bargain if they now try to acquire SKW. A sell out merger was announced yesterday to give away the company to Marquee Petroleum (a backdoor type deal that only benefits Marquee and SKW board). The merger will certainly be voted down by SKW shareholders as 67% is required for the deal to go through. Most of SKW shares are currently owned by retail investors and they will vote against the deal then vote out SKW management and board. The new management will be hired to sell the company at a big discount to what it could have gotten and BXE could be a big benefactor if they choose to acquire SKW. They can get them for 50 cents a share instead of $1 and they will immediately add 2000 boe/d of high quality oil and gas of production plus over 10Mboe of proven reserves with lots more to be proven up on their existing land.
I know that BXE has a lot of their own land to drill, etc, but given the discount they can buy SKW for, it will add some serious short and long term value for BXE shareholders. The current 12 month consensus target price for SKW ranges from 65 cents to $1. BXE could buy them out for 50 cents per share and add some great value to BXE shareholders.