Reply to EstevanOutsider....EstevanOutsider wrote
"Heard it in detail from a really good source and heard it confirmed by other sources with less detail. So we know Pipestone had at least 3 parties interested (CPG, Paramount, Hammerhead) with speculation there may be 5. Riverstone was interested in Hammerhead merger but GMT is not aligned with that. GMT turned down offer at $6 to CPG this summer. Unclear why the deal with Paramount did not proceed at $7. Anectodal recounts. I believe them. GMT are the smart money here with technical knowledge of the AB Montney assetbases so encouraging to see them buying. I tripled my shares in Pipestone after seeing GMT buying."
Thx for the reply and for putting some context to it, as well as clearing up a few things. It is much appreciated and i'n pretty certain i speak for the whole board on that. If these reports are as accurate as you say, then it explains many a great things and confirms some suspicions i have had for a some time.
The Hammerhead situation has been somewhat speculated & known for some time. As far back as almost 3 years ago. A merger between the two was a natural and had very high odds of happening. I never understood why it never did, but now i'm starting to get a pretty good idea. But the times have drastically changed now, and i don't expect for Hammerhead or Pipe to be a buyer or for any merger to happen. I really think BOTH want out! And in the next two years or so both will be bought out.
Still don't understand the Crescent Point angle and why they would bother with Pipe, not their core ops and their are better opportunities that fit with CPG's assets The only way thid makes sense is that the Pipestone assets were cheap and gave them the best bang for the buck AND they wanted to diversify their production. Other than that, it doesn't. On the other hand the Paramount offer & speculation mkaes total sesne. They've been on the "hunt" looking, searching for some time for some great assets to add to their own, and like i've said many times here, Pipestone fits the bill PERFECTLY for them. If it isn't Pipe who is added to Paramount's empire, it will be some one else soon, as i expect them to buy someone as some point.
Aside from Paramount though, there a a few other players who i think would make more sense and have the resources to do so. The one to lookout for is Spartan. The Russia/Ukraine situation may have complicated things a bit, but i still think it's doable for a merger between the two or a total buyout of Pipe. They're the one to lookout for, if anyone is going to make a move and has reason to do so. And YES GMT is the KEY!
GLTA