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High Arctic Energy Services Inc T.HWO

Alternate Symbol(s):  HGHAF

High Arctic Energy Services Inc. is a Canada-based energy services provider. It provides drilling and specializes well completion services and supplies rental equipment, including rig matting, camps, material handling, and drilling support equipment. In western Canada, it provides pressure control equipment on a rental basis to a number of exploration and production companies. Its North American service lines include nitrogen and oilfield rental equipment. Its fleet of pumper units operate onsite to deliver nitrogen to the oil and gas industry when and where required. Its International Operations service lines include drilling rigs, workover rigs, worksite matting and rental equipment. Its fleet of specialized rental equipment includes camps, cranes, trucks, forklifts, pumps, gensets and lighting towers. It is also focused on offering pressure control equipment and equipment supporting the high-pressure stimulation of oil and gas wells, along with other well site rental equipment.


TSX:HWO - Post by User

Comment by colouramaon Aug 05, 2023 6:26pm
114 Views
Post# 35575066

RE:RE:Buying into what we already own....

RE:RE:Buying into what we already own....I am skeptical anything will be done to protect minority shareholders. If the exercise price is, say, near PNG book value $1 - 1.25, then we will need to add additional cash to maintain our share count in the private co. Otherwise in effect we are letting PNG go for book value to Cyrus + management.

I guess technically receiving book value for the company is "unlocking shareholder value" at the current SP, but no one is invested here to achieve that.

In my opinion the best case is either a discounted exercise price (below RoC), or a substantially higher exercise price that can have the effect of bringing forward some future value of PNG. Neither of these are as appetizing as continuing to keep PNG public.

In any case, we wait and see.

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