RE:RE:okay TeamWell, I'm leery..and good reason to be. I've seen for the past several years the equity values in the energy names plummet.. I've held a few, bought Crew much higher, took a tax loss then bought a bunch back.. many of the catalysts have sounded the same over the past few years, but yet to materialize. In order for equity valuations to return, there needs to be buyers.. of which there are few. Additionally, any takeover discussions are really only at a premium to the x day trading average, so now we'd be looking at $1.30 per share. Is that a good enough risk/return? I do like dividend payers, steady monthly income with lower risk.
I'm a Crew fan..but I've also heard for years now that they're going to sell an asset and clean up the balance sheet.. it's April, 2021..and it still hasn't happened.
I believe this is a $4-6 fairly valued (with an asset sale and $150-$250 in debt remaining.. so the upside is tremendous.. but, outside of the Infra deal.. and a bit of an uptick in drilling.. need to see more. I feel mgmt. owes shareholders more..
If I were on the board, I'd fast track the sale of the heavy oil assets... even at a lower price.. get them off the books.. they drag down the ARO and make the company look less attractive than a pure play Montney producer. No wonder they don't mention them on the slide pack.. but they're there and it could be $30M in debt reduction alone getting rid of them.
So I'm in, and would like to add.. but it's getting long in the tooth to see an asset sale after hearing this promise for about 4 years now.
Oldnagger wrote: How about you share first , while we think about how to answer your request. To start with which ones are you planning to sell ? Realistically are you saying that info contained in Crews presentation is pie in the sky? Do you have any insights as to why that may be so? And if so why would you want to buy?
You are hard to figure out . I like you and what you do contribute which is very useful, but I think you have your traders hat on right now !!