RE:RE:RE:RE:WowYeah, was just doing a draft analysis. Anyway, attractive buy at the current price, unless Waterous's plan is to bankrupt the company and then take it over lol.
Danish Maersk Oil was bought for about 5 billion, the company is about 10 times the size of Cona in terms of bpd and reserves, with similar debt size and structure (considering differences in cost and the oil type).
Cona's market cap should be around 500 million or $5 per share, using that pricing.
Not sure how much Waterous paid for Strath Resources, but he may not have the money to take over the whole company. I think the initial PE fund capital was like 400 million.
Anyway, an announcement of asset sale might pop up the price if that happened in between. Should sell Plover SAGD, if they cannot fix it.