RE: strategic alternatives news prior to 30 day ip Again someone finally has a brain in the BWD pump-and-dump story. Yes the Bakken has a chance to be a decent play in time, but it will take hundreds of millions to actually capitalize the play. BWD management blew it with their gree when they didn't raise tons of capital at the
.70 range and now shareholders gains will be muted by their inexperience.
The price run over the past week is entirely because of the leak on the news released today. Given the volume and huge price run, the take-out premium is already out into the market. I 100% agree that the well results are not positive in the sense of raising equity which this company needs to do almost immediatly. Announcing the deal ahead of a sell-off on weak news is the first right move this management group has made in awhile.
For the record.....the CFO quits, promised well results are delayed and watered down, sale announced. Is the sky really still shades of purple to all you speculators who bought this thing at 3-4 times the current price. The top is right here....