RE:RE:Let's not kid ourselvesI agree BTOS, its clear this stress has taken its toll on these poor guys.
Victoria was probably thinking "nope hard pass, these two salty execs look too frazzled, I'm going to cast my eyes over in the direction of that handsome Cheadle over there".
Jest aside, I now think it's best to either:
1) Sell off the assets, even at a lower price to lean down to the two core development assets (Greater Septimus, Groundbirch) for LNG export.
2) Sell off the company for $1.80 per share.
BeatTheOddsSqua wrote: Cheadle from the appearence of Dale and John it appears that the stress of the past two years has taken a toll on both of them. I think the drop to $0.15 / share must have rocked them pretty hard.
The current environment is an ideal chance for them to exit with high comodity pricing and the looming LNG project, I believe there would be multiple suitors.
The two year plan is a great showcase of the potential of the Montney assets. The timeline on the debt with the possibility of refinancing means they are not in a "fire sale" position. They don't have to take the first offer.
I believe both would be onside if they could exit with a golden parachute and hand the reigns over to a group with the capital to extract the maximum value from the Crew Montney assets. Shell and or its LNG partners, ARX, TOU, CNQ and others would all be capable of doing just that.