RE:RE:So many questions, yet so few answers Other parties are free to make an offer for Pipestone for a break fee of $25 million.
If there are any out there at very low metrics.
If there are not, you have to wonder what it implies for a company like Kelt which has even less good Wembley assets...
uwebb429 wrote: Riverstone may be "smart people" but at the moment, most of the people on this board seem to think that they were outsmarted and out played by Strathcona Resources. When the share price drops 10% the day of the announcement, that is usually a pretty good sign that PIPE got the short end of the stick.
It makes no sense to be selling now. Tough to get fair market value for any natural gas focused company in August when AECO natural gas is under $2.50 CDN/GJ.
Only after Strathcona Resources goes public and starts trading will we know for sure if this was a good or a bad deal for PIPE shareholders. At the moment, I feel like a Painted Pony.