RE:RE:RE:RE:RE:RE:RE:RE:RE:Crew 2020/2021 Drilling and Production Highlights This is the original post that someone posted in March. I think Beattheodds is making reference to the last sentence.
Another B.C. Montney producer, Dale Shwed's Crew Energy Inc. (CR), lost five cents to $1.15 on 1.81 million shares. It undoubtedly took notice of Leucrotta's asset sale. Mr. Shwed, Crew's president and CEO, told an industry conference last month that his current focus is the Greater Septimus area of the Montney, and therefore he would happily entertain offers for Crew's Attachie, Groundbirch and Tower assets (a little to the southeast from Leucrotta). "If we get the right price for things, we will sell them," said Mr. Shwed. He also emphasized that Crew is not keen on diluting its shares and does not plan to pursue equity financings any time soon.
One analyst seems optimistic that Crew will find a buyer, perhaps for the entire company. "Crew is likely to attract many deep-pocketed suitors/partners over the next two years," predicted Canaccord Genuity analyst Anthony Petrucci in a new research note. He opined that Crew owns "one of the more enviable Montney land bases." Asset sales could help the company reduce its debt (which was over $357-million as of Dec. 31) or pursue its "aggressive" two-year plan (through which it wants to boost production to as much as 33,000 barrels a day in 2022 from just 22,000 in 2020). Mr. Petrucci hiked his price target to $2 from 70 cents. The stock closed today at $1.15. A disclaimer in Mr. Petrucci's note advised that Canaccord expects compensation from Crew within the next three months for unspecified investment banking services.
Beakr123 wrote: Nowhere in that post is there any evidence that Canaccord has explicitly said they are waiting for payment from Crew Energy. Seems as though this is just your assumption based on a higher target price estimate from Canaccord. I hope I'm not coming off rude here but am I missing something? Kind of a misleading post...