Who with CPG take out next? One of the great advantages (and key to CPG success in the past) is to use its premium stock valuation as a currency for purchasing distressed assets or other juniors by using shares instead of cash.
It would be like residents of Canada having a $1.30 to USA dollar ratio and then going down and buying the same house down there at 1/3 the price. In the long term everything returns to its true value but in the short term great deals can be made.
That said three companies that I think could be on the list is LEG (Legacy Oil ), TOC.A (Tourquay Res) and ARN (Arcan Res). All of these stocks are 100% oil focused and have been hammered due to their size and debt leverage which makes them susceptible during down markets. They are currently trading at a deep distcount to their NAVs.
I am looking for some other companies that operate 100% oil that may be in the same boat. I would like to hear of any other stocks that might fall into this category.