Chinook Energy Inc. Common CNKEF

RE:TOU acquisition targets

[Don2018]

George98 wrote: "Mr. Bouvier's list of acquisition opportunities for Tourmaline includes no fewer than 16 companies. Most are private, but Mr. Bouvier did include the following public companies: Chinook Energy Inc. (CKE: $0.055), Cequence Energy Ltd. (CQE: $0.195), Pieridae Energy Ltd. (PEA: $0.77), Delphi Energy Corp. (DEE: $0.71) and Perpetual Energy Inc. (PMT: $0.065) (the last of which, interestingly enough, is run by Mr. Rose's wife, Sue Riddell Rose). Mr. Bouvier says all of the listed companies could be attractive to Tourmaline because they have overlapping or adjacent operations and are relatively small and easy to swallow. To sum up, Mr. Bouvier sees a "meaningful number of motivated sellers" that might happily put themselves under Tourmaline's care, leaving Tourmaline "well positioned to consolidate a beaten-down subsector." Mr. Bouvier has a "sector outperform" rating on Tourmaline and a price target of $23, well above today's close of $13.90."

PONY just sold some undeveloped land with NO production for $45 million, and the buyer was rumoured to be Tourmaline. So if TOU was looking at CKE, it does make one wonder what they might pay for land that had production, a gas plant, and a pipeline?