soon... hostile bid offer? double + if...todays info and summary on qtrly divy really gets Rozier's plan out, although not mentioning his pretty high salary for he and CFO... for simply cashing a qtrly payment from Beach. $3 mill a qtr from Beach. they really do just recieve and deposit the cheque from Beach... it ain't a standalone bizz... it just ain't... Shareholder value is maximized selling to Beach.. obvious and valuable.
Beach may have offered again... they see bigger payments coming they want in house, of course. Worth $13 mill this year to Beach and maybe 50% more after that. To Beach this asset is worth $60M. As 4 cent a year divy play??? Nope.
$60 million! Worth every penny of that to Beach... $13 million this year. Yes $15 Million next five years... four year payout.
As a shareholder.... do I want 60 cents a share, or do I want a small qtrly dividend. maybe 10% average over the next 5 years... as Rozier is thinking....
Shareholders here know this is a valuable asset. it is... No downside in a hostile bid.. it don't cost much to make an offer to buy all the shares.
$60 Million on roughly 100M shares... 60 cents... trading today at 37, which is... funny enuf... a 'high' being it is just after the latest 6 cent dividend!!
I am watchin for Beach next drilling update... Beach is drilling a lot on the royalty land. Spectacular results with 1000 bopd wells common. Just wonderful asset this GOR is. but not invaluable... there is a market value. it is just oil... a big deposit of light oil with muliple layers.. production projected to average 20,000 bopd. Ultra low cost in the $5 per barrel range from early days.. surely double that now... ultra low cost oil! 100 mill in producing reserves in my opinion.. with upside.. albeit double the cost when in development stage and then maybe secondary production methods that might double those reserves to 200 million barrels of light low cost oil... so 2.5% of that is a real asset.. in the little company and I think maybe the ceo likes the salary, stablility and stuff with loads of time on his hands..