TSXV:NORA.H - Post by User
Post by
carterZ21on Oct 05, 2011 7:30pm
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Post# 19123444
The Perfect Storm....
The Perfect Storm....Hey everyone,
The last couple of weeks have been gut wrenching for us OK shareholders. I've seen "on paper profits" dry up in about four trading days and for the first time in over a year I am in the red in this stock.
One cannot help but think that if the trend for PM stocks continue downward, or even level off in this range, takeover targets will be snapped up in volume. PAA has to be seriously thinking about making a move for OK in the near term. If they offer a takeover price based on a 50% premium of the average closing price over the last 90 days or so you probably would have an offer somewhere in the range of $3.75 - $4.25 per share. Not what I believe the company is worth however, I'm not sure how patient the big institutional investors like Sprott will be in waiting around for the "right price". Depending on their average cost for OK, the $3.75 - $4.25 range may be enough to convince them to tender their shares and move on to the next play.
Believe me, I hope this scenario of $3.75 - $4.25 doiesn't play out. However if PAA is opportunisitc they would be foolish not to try and get OK on the cheap while the market is depressed.
Let's hope we get back well above $2.00 before 2011 ends.BTW, are you still out there YeOld ? We need your insight !
Carter