RE:Shorters won't sleep well tonight....This strategic initiative appears to be driven by potential partners in some sort of business arrangement. They are sniffing about Gear because it is too small to get traction on its own, it has attractive heavy oil opportunities, $600 mm tax pools, very good FCF and it is a stock laggard.
Quite a handy acquisition for any cash heavy midcap looking to bulk up at a reasonable $ per flowing barrel. I'd reason $1.50 cash will do the job. 6,000 bpd liquids to diversify a more gassy producer. I think there will be a fair bit of interest.
Show us the money!