Spartan Delta Corp T.SDE

Cormark

[retiredcf]

Terrible is correct about the wts but it will allow us to potentially double our holdings in Logan by exercising them prior to 17 July. If you're going to stick with Logan and this management team, most of us think that's a pretty cheap price so I would expect a good number of current shareholders to follow this plan. 

As an example. If you currently own 1000 shares of SDE you will receive 1000 shares of Logan and if you choose, an additional 1000 shares of Logan for a cost of $350. 

Back to Cormark. GLTA

Spartan Delta Target Lowered by Cormark C$26.00 C$21.00

[fauxtomato]

The drop in price to ~$14/sh (the low was $14.06 yesterday morning and today) has me retinking my plans. Easiest way to look like a fool is to make announcements about the future. I was planning on selling my holdings near $15 (and ideally higher) to avoid the dividend tax headache and reinvest in a peer for more capital efficient O&G exposure (right now 2/3 of SDE's share value is fixed

[papaloapan]

I'm involved with SDE because of managements track record, but suspect that if they made a good move here, it will take some time to see it. The market is indicating a sum of the parts value, so there seems little be gained by holding.  I do have interest in the smaller SDE "stub" but prices typically bounce irrationally following the actual event;  Logan may make sense

[Seppelt]

I think, SDE is a buy at current prices, especially in non taxable accounts like tfsa. Logan shares plus transaction warrants (or a smaller piece of the pie post financing) is a free gift. Simonette area plus a 50% ownership in a gas plant, has a great potential for growth. $100 million in raised cash will make it a very busy year for Logan. They may consolidate so there will be a chance to add

[Seppelt]

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