RE:RE:New investor presentation up...It is baffling BNE is over 2.50 right now...the only thing I can think of is this stock has so few share outstanding, a high amount owned by insiders and I alot of retail BNE shareholders who have averaged down and are stuck....can't sell without taking a huge lose and averaging down is only way out. BNE never has intense selling and when it does it usually drops so much.
I can see OBE and BNE being the only suitors intersted in the ARC pembina cardium assets...like 6500 BOE and 225M in reclaimation liabilties but I am not sure if that is discounted or undiscounted.
So interested too see what ARC will get but it is possible the bids are so low they pull it back.
Reclaimation liabilties wont matter as much to OBE or BNE as they both have alot and are already there..I don't think the arc assets can make sense to anyone else finanicially for this reason.
The investment climate has changed in 2021....Reclaimation Liablties are a huge deal and concern in M & A activties.
Look at Tamarack Valley buy of Anegeda today...they make a point of highlighting how low the reclaimation liabilties they are taking on.
Hard to get bank lending if company you buy as alot.
I think BNE would have to do a right s offering to get ARC pembina assets...but I am sure it makes sense to get bigger and get better economies of scale on the operating side.
2021 should be an interesting year on the Merger and Activity front.