GREY:CNKEF - Post by User
Comment by
stockfyon Jul 01, 2017 1:56am
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Post# 26426763
RE:The Bison Fund and HMQ own 50% in Chinook Energy!!
RE:The Bison Fund and HMQ own 50% in Chinook Energy!!stockfy wrote: See the latest Sedar filing. The Bison Fund bought slightly above 12% in CKE and filed.
Her Majesty Queen of Alberta (managed by AIM) owns slightly above 37%.
So just two funds, two strong hands own 50% in CKE!
So the suitor can't acquire CKE at a discount relative to the peer group. The strong hands are not novice retail investors who sell at 33 cents ignoring fundamentals and the peers' valuation.
The strong hands will sell CKE at a fair price relative to the peer group.
Based on CKE's current Enterprise Value of just C$42 million (!!!!!), CKE's Montney acreage (50,000 net acres) is currently valued at just C$800 per acre!
In the meantime, the Montney deals are at C$4,000 per acre and the Montney peers including our neighbor Storm (SRX) trade above C$2,300 per acre.
Leucrotta (LXE) with 2,700 boepd (75% natural gas) currently trades above C$3,000 per acre!
As a reminder, SRX's natural gas weighting is approximately 85%.