Twin Butte Energy Ltd TBTEF

RE: RE: news

[bshort92]

It would seem that this outfit having $190 milion in tax loss breaks would be the hunter. Their corportate presentation stresses that they are intent on being an intermediate. Chairman Fitzpatrick is the type to see a build up likewise Saunders based on his Prairie Schooner background. Ogilvey and Cathcart are not in this deal for small potatoes either. Reducing the debt load $10 million or 20% is significant. The market was down 300 on the TSX today and can't be the guage of why the shares sold on the news. The release did not name the property sold. Seems like the TBE team wants to go in an oil direction with the mix at 70/30 NG to oil. With oil prices firming  that move may be smart. The depressed NG markets may take longer. But a bigger player wanting say 2900 BOE a day and just $40 million of debt to assume might benefit taking TBE out at say its NAV of around $3.50 a share.