RE: RE: EQU is in the Lochend Sweet Spot (Best typ Dennis,
I spoke to Scotia 3 days ago (July 16th), they continue to maintain that the review is going "very well" , the presentation phase will be over this week, and shortly a deadline will be established for bidders to make their bids. The review is still on track for conclusion in early August.
I also mentioned to them the sweet spot at the Lochened Cardium, they were aware of it and informed me that PetroBakken also had great results in the area (from the maps I have seen it is mainly Equal, Pengrowth and PetroBakken that share the sweet spot).
In light of the rebound in WTI and NG, we are looking good for a positive review conclusion within two to three weeks.
I do need to highlight that the trust model as well is under serious consideration, most recently Argent Energy Trust filed to go public (offering managed by Scotia), Argent would be the third trust after Eagle and Parallel which focuses on the trust exception of having exclusively foreign assets; once Equal divests its Canadian portfolio it can pursue this venue if it wishes for its US based Hunton/Mississippian assets.
Regards,
Nawar