GREY:CNKEF - Post by User
Post by
stockfyon Oct 19, 2017 4:35pm
191 Views
Post# 26833699
Is CKE working on a BUYOUT? No insider activity for 4 months
Is CKE working on a BUYOUT? No insider activity for 4 monthsNo insider buying or selling activity since June 2017. This is 4 months without any purchases or sales.
We all know that when a company is working on a buyout, the insiders are not buying or selling shares.
A buyout scenario is also supported by the fact that CKE's drilling results from the 4 latest Montney wells are out and available to the suitors, so the suitors have a good understanding of the company's Montney wells.
CKE's neighbors are Black Swan, Saguaro Resources and SRX or it could be other suitors like energy funds (i.e. ARC's).
With dirt cheap CKE being a takeover target, selling CKE now with Enterprise Value at just $50 million with zero debt and 6,400 boepd in December 2017 according to the guidance is the definition of stupidity.
UGR's buyout from PONY was the latest Montney deal and consolidation in the energy sector is going to continue.....
https://www.canadianinsider.com/company?menu_tickersearch=CKE%20%7C%20Chinook%20Energy