RE: RE: RE: RE: RE: Thoughts on sale-for eg...reviewing strategic alternatives
That is public market speak for 'Up for Sale'
But it could also mean, merger, asset swap, asset sale, or even nothing may happen. All it means is that a data room is opened, and the word is out.
The big change is that the mgmt were looking for a merger before. As if they were in the driver seat or something. They must have been kidding. Barely any money coming in. We don't operate the ppty, and we don't have anything else sexy in the portfolio that they have told us about.
I think Quiach is a nice asset worth some bucks, but it does not give one clout to be the acquisitor. CMT is the obvious buyer in my opinion. They know the asset best, and know it is under valued by the reserve rpt.
We did get the positive technical revision that I figured on, and a better proved producing start to 12-34, but the engineers are still being conservative. A year from now would likely show another +ve revision on existing wells.