GREY:TBTEF - Post by User
Post by
bshort92on Jul 14, 2008 10:56pm
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Post# 15291978
Why would TBE get bought out
Why would TBE get bought outRoyal Dutch Shell Plc has agreed to buy Canada's Duvernay Oil Corp for around C$5.9 billion ($5.9 billion) to boost the major's production from prolific unconventional gas holdings.
Shell and Duvernay said on Monday that Shell has made a cash offer of C$83 a share, 42 percent above Duvernay's Friday closing price of C$58.44 on the Toronto Stock Exchange. The offer was unanimously accepted by Duvernay's board.
Duvernay has 1,800 square kilometers (450,000 acres) of land holdings in two Canadian provinces, particularly in the prized Montney region in the northeast of British Columbia and in Alberta's Deep Basin, areas Shell hopes to add to its portfolio of tight gas interests.
That's why. TBE's acreage at Kelly and Brassey in NE BC are very close to acreage held by Duvernay. Cawston went on the record that the Montney acreage is that compelling...literally materially changing and TBE is executing this strategy without blowing the company up and during a time of fantastic oil and NG pricing. The shoe has fallen and its obvious that the areas players are going to be consolidating as a wave of M&A activity is about to sweep through western Canada's Jr's.Who is next?