Shell Canada is a Strong Potential Suitor Mrnomo, She'll Canada is definitely a strong potential purchaser of Crew. Like other posters I hope this does not happen until Crews share prices increases to well over $1 and hopefully closer to $2.
Shell is the majority owner of LNG Canada (40%) and will supply their 40% feedstock from their Groundbirch properties located directly east and southeast of Crews Groundbirch & Septimus lands. Shell will need more natural gas feedstock than their current property can supply plus they wa t security of supply for many years. They can easily buy this additional natural gas on the open market or they can make a small land purchase (Crew is a small purchase for Shell) and control their own destiny.
Shell purchased their Groundbirch properties quite a few years ago by purchasing g Duvernay and IMO are the favoured suitor for Crew. They will have no problem at all covering Crews debt and paying a good premium on the 156 million outstanding shares.
Shells shareholders would have a problem with Shell purchasing additional oil producing lands, but will have no problem with a natural gas purchase to supply their 40% interest in the huge LNG Canada plant that they operate and as we speak construction of the plant and TC Energy pipeline (which runs almost through the Groundbirch play) are proceeding.
I don't disagree with ARC being a potential suitor in a share issue joint venture, but I think A Shell purchase is a real possibility. There has been a lot if share activity with some big blocks trade in the last few days and I believe this will continue.
I still believe Crew will be taken over before the end of Q2. We can't rule out CNQ , TOU,or ARC, but Shell is the best fit IMO.