GREY:PCCLF - Post by User
Comment by
mike49on Jan 09, 2016 6:15pm
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Post# 24443787
RE:RE:fos/petrus
RE:RE:fos/petrusunless one thinks that o&g is done forever then seems like smart enough move.no one saw the latest drop coming but remember that the conversion price was based on bought deal financing for a pretty good chunk of change so combined with the existing entity there is some serious skin in the game here.
i personally think the chance of oil recovery has a shorter time frame than anything at fox river so why not at least own something producing now.sprott and longs still get to keep the spec play in a different company and if anybody wants out there is no less hurt than there was 4 or 6 or 12 months ago.all things considered,at least something got done and not more moose pasture,dope,or dohickies.still 3000 or so companys around for that.
you're hitching the wagon here to don gray and co. and a 30% stake from png.this summer you will see action here on the m&a front like crazy(imo).just gonna have to wait.the market seems to think that even in this climate the 7ish for the new petrus should hold up.