OTCPK:OEXFF - Post Discussion
Post by
PeterM1 on Sep 10, 2018 5:20pm
Next duck in the row
This is just a guess — but at .85c Josh Young / Bison Interests will probably break even or perhaps score a slight profit on their investment in IBR.
Next up expect Bison to turn their attention to their other Montney investment - Chinook Energy (CKE) - in which they have a 12% stake.
Its a sitting duck - currently trading at around .21c a share - it has a breakup value by my estimate of as high as $1.50. They may have some competition though. Recently there has been some buying interest from a client of UBS who have been accumulating shares at up to .25c
Josh Young should know the company quite well. Most of the land that IBR acquired - and which prompted Velvets takeover bid - was acquired from CKE (to my mind at a very attractive price).
With Chinook going nowhere - and Velvets money in his pocket - a move by Josh Young to take CKE private seems to be a no brainer. Still he would need to get the OK from AIMco (the majority shareholder) but I am sure they will easily be tempted by the extraordinary windfall profit just lying on the table
Could be interesting. As usual watch for the ordinary shareholders to get shafted.
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