Novus in David Pescod's Stocktalk today TAKE OVERS?
There have been a couple of takeovers in the oil and gas
patch over the last while and some of them have been quite a
surprise. When you talk of the usual source of gossip, not
many people had some of those reorganizations figured out.
When we tap into our sources which we have to admit
hadn’t figured some of those other takeovers as well, the
three names that keep coming up as potential takeover targets
are Novus Energy, Bellatrix Exploration and Bankers Petroleum.
Will any of them be taken over by Christmas as we might
hope? One can always be hopeful, but one never counts on
that kind of stuff. Time to take a look at them though.
Novus Energy is run by
Hugh Ross and he has much of
the same crew that built Gentry Resources up and sold it to
Crew Energy. That turned out to be a good deal for both the
Gentry shareholders and I’m sure the people at Crew Energy
are quite happy with that takeover as well.
It’s been amazing the turnaround on Novus from 75%
natural gas just three years ago to current day of 84% oil and
liquids. More than a few people are suggesting their numbers
when they come out on April 12th, might be interesting.
Who might the potential buyer be? Some suggests it’s
Whitecap, a company with experienced oil and gas types that
have already bought three different companies over the last
12 months (this might not be the time for Whitecap though as
their stock has been drubbed like everybody else in the last
few weeks).