Bullboard - Stock Discussion Forum CONA RESOURCES LTD T.CONA

Energy Oil & Gas Integrated

"Cona Resources Ltd is a Canadian company which is engaged in the exploration for and the acquisition, development, and production of petroleum and natural gas reserves in western Canada. The company owns an interest in Cactus Lake property, Winter property, Court property, Cuthbert property, Mantario property, Thermal properties and others."

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TSX:CONA - Post Discussion

CONA RESOURCES LTD > Weird

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Post by xbox360 on Aug 09, 2017 9:30pm

Weird

Hard to even buy and take a position in this stock, yet the price is being driven down. Waterous lost like 25% (or $61 million), so I assume it is a good buy at this point. Getting it cheaper than the Waterous himself.

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Comment by Holdernko123 on Aug 10, 2017 7:43pm

I guess Waterous pushed price down by purpose so that it can buy more shares cheap. Eventually it will take over the company and own it 100%. There is no sense it will keep 68% stake forever.

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Comment by xbox360 on Aug 11, 2017 5:12am

They would need an independent evaluator to take over the company, now that they've become an insider of the company with more than 10% ownership. They could've offered to buy all the shares at $3.60 before, yet they probably didn't want to risk their 68% bid falling off altogether if the remaining shareholders decided to reject the offer then. Not sure how an independent ...more

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CONA RESOURCES LTD