bruce campbell saysMarketCall Tonight today's show Bruce Campbell said Paramount has the best balance sheet of any intermediate gas producer and he speculated that the new funds would be used to acquire other gas assets. He thinks the surmont sale was brilliantly structured in such a way as to avoid taxation while maintaining downstream value of the asset (plus other assets) because paramount now has a 50% ownership of the acquiring company. MEG is another private company as was NAOS and we have 50% of that company now. He has no concerns from the sale as we have futher benefits to come downstream. He felt the company was wrongly punished for the sale and that the value is still intact. He feels that the street will realize it's mistake and we should see a bounce back to the high $20's to low $30's.
Bruce Campbell has been right on target with this stock in the past and his professional opinion is highly rated.
I lucked out by selling all the POU I had left the day before they announced the second sale. $28 looks good now but I will be reloading tomorrow.
This company has strong leadership and we are about to go on a spending spree. I have faith that the competant leadership we have will be shrewd in any acquisitions we make and I trust there will be many more value creating decisions to come and I want to be a part of that. Plus gas stocks are coming back onto the radar screens with an overall bullish sentiment for the future of gas prices.
Good luck to all longs.
OceanRanger1