Bought 2000 shares at opening. Cross your fingers!Well, I dove into Longview Oil headfirst this morning, snapping up 2000 shares at 5.26
So that makes me a fellow owner of Longview Oil.
Since I bought this morning, share price has drifted somewhat lower, but I don't really care...
I have a strong feeling Nawar is probably right, and this entire company will likely sell in the next couple of months, at somewhere between $6 to $7 per share.
Although I have to say this company is obviously worth FAR MORE than a measely $6 to $7 per share... so I feel a bit of sadness that it will end it's days, going out at such a cheap/discount price.
I guess someone is getting their grubby/gready little hands on Longview oil's lands at a serious bargain price!
:(
The identity of that culprit, we shall find out soon enough, probably by the end of this month as Nawar mentioned.
I just hope that Longview's current management and board puts up a decent fight for as high as a share price as possible. I think Nawar had some concerns that management may be insanely letting this company go at too cheap a price, so I'm glad to see he has spoken out his concerns about that by issuing a formal press release.
I've had somewhat of an interest in Longview Oil for a couple of years now, and have been lurking in this forum, following the story from time to time.
I have to say this Longview forum was particularly lucky to have a poster such as Nawar, so I always enjoyed reading his insights.
I never really invested in longview however, until today. (I had invested in Scotiabank when it was "low", then sold when it spiked. And then I invested in Becker Milk recently, and sold when it spiked. After that I recently bought Riocan and Canyon Services a couple of weeks ago during the market downturn, and then sold those as well when they spiked back up last week.
So now I'm using all those profits, and just dropped it all into Longview Oil.
Cross your fingers!
I figure in a bad case scenario, if the this deal falls through, then Longview's share price might get punished and spanked back down to the low $4 range, and then perhaps gradually drift back up to about $4.50... while still giving out a healthy generous dividend.
So I'm prepared to live with that scenario.
But again, I have a strong feeling Nawar is probably correct, and this deal will go through in a couple of months.
The mystery buyer appears to have already purchased 19 percent of the shares... so that is quite a huge and very serious committment... you don't buy 19 percent of a company if you are just playing games.