Reply to Montrus IImontrus wrote:
'Friend of a friend' (but very reliable) said it was CNQ that had a serious look at them. But like you, I am thinking Paramount or Spartan are very likely candidates"
Thank-you for sharing that information friend, it is much appreciated. If there's any truth to that, i would hope The Pipe passes on their "generous" offer, if there's any given. Don't like Canadian Natural much as a company, or their undehanded tactics, but i respect them in other ways. Very shrewd, methodical, almost cutthroat approach, which has worked out very well for them over the decades. But if i was a Pipe /sh, which i am again btw, i would definitely pass on their paper.
So in the end, i'm not really surprised that CNQ tried to kick the old Piper's tires, and GMT send them packing quickly. When you have a Scrooge like behemoth like CNQ and a greedy mF'r like GMT, both with big chips on their repective shoulders, the odds that a "mutually beneficial deal" gets worked which isn't one sided, out are almost nil. I guess both have to look elsewhere to fulfill their needs. I'm sure there's a few dead carcasses lying around, in the waiting, that vultures like CNQ can pick on. As for GMT, they'll have to show a bit more leg & cleavage if they really want to get their way.
Still hoping on the Spartans to come through here with a win/win for all. They have all the reasons they need to make a "mutual beneficial deal" that even Xerxes....sorry i meant GMT 8)....can't refuse. And if the Spartans fail to come up with anything enticing, there's a few others waiting dormant in the wings, just waiting for their turn. Guys like Nuvista, which could be both buyer or seller, as well as Kelt, once they figure out which gender they are & come out of their comatose state.
Also wouldn't count out Paramount showing their ugly mug again, with a much improved offer......for GMT that is 8). Also wouldn't rule out someone like Ovintiv, if the conditions are right, but the old Piper might be way too small for them to bother with as the artist fomerly known as "Encana" might have much bigger, plumper fish to fry. But still wouldn't count them out completely! So as you can see, the old Piper is smack in the middle of war zone, valuable lands full of interesting treasures which many are fiercely fighting for. Hopefully GMT has seen the light, and can come to some sort of "acceptable" agreement with one of them......soon.
GTLA