Arcan Resources Ltd ARNBF

RE: RE: RE: RE: More than correction.....meltdown

[Corrigan1]

We are in Florida right and this morning the only comments I had seen before we headed off for a day of Flea Market shopping were from TD Waterhouse. Their comment were that the deal was slightly positive for PGF. I had thought that they would be more enthusiastic as, in my mind, it would allow PGF to divert drilling money to higher return oil plays and thus jack up the net back and the cash flow per share.Seems that the rest of the Street is yawning too and in many cases, reducing their price targets for PGF. Pretty much they are echoing TD`s stance that the revised CAPEX budget has been reduced for the proforma combination and I can`t say that their thinking is wrong. Each company was budgeting Nat Gas production at close to 50% for 2012 and we all know that Nat Gas prices are in the basement, and will likely stay that way for a while.

 

Someone posted a comment a while back about Arcan that I really liked. He said that Crescent Point had essentially licked.the doughnut with their minority share position and likely no one will touch it now. Pengrowth missed the boat on that one for sure as they we coveting the assets but were too slow to act. Back then, they didn`t seem at all interested in SCS as they were only viewing it as a play for Pekisko oil. So what happened? Crescent Point came in and licked that doughnut too with their JV arrangement for the BHL acreage. Pengrowth has stated they want high ownership of their assets and they would not get it with a play for SCS at this point. But what do I know? I`m just another retail investor trying to assimilate a lot of information and make reasonably good investment decisions to eke out a few bucks.