GREY:TBTEF - Post by User
Post by
bshort92on Jun 22, 2009 9:43am
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Post# 16088336
Buyers not sellers
Buyers not sellersTBE buys another 250 BOE a day of production for a bit more than the 1850 acres and 35 BOE that they recently sold off in NE BC. Loosely translated TBE now has about 55 million shares out. About $42 million of debt ...way under their credit facility ceiling and now has production near 3200 BOE a day. You can grow an outfit through the bit or you can pick off smaller outfits both public and private and achieve the same effect. Take your pick. TBE is growing in a lousy NG price environment and that should reward shareholders down the line when the NG price deck improves. I think there is more M&A to come.