RE:RE:RE:RE:Cormark At 173 million shares and $140 million debt the new SDE is currently valued at $25,000 per flowing barrel. Too conservative considering ownership in gas plants and the fact that most of its 2023 gas production is hedged.
At $28-30,000 the shares are worth $6. I think the current price will move up closer to $15 as we get closer to voting date slightly less than 5 weeks from now. Then it's a sell to avoid dividend taxes or a hold. Could be a short hold because the new SDE won't be around for too long.
Given their past, McHardy and Kalantzis will sell SDE, probably already have potential buyers in mind who have expressed interest in Deep Basin during the repositioning process. Logan will follow shortly.
Pure speculation but these guys have done it before. Unless, closer to retirement age they would rather settle for CEO jobs collecting wages, rights, options and small dividends. That was too boring for them in the past.