Twin Butte Energy Ltd TBTEF

Why not?

[bshort92]

Floated the idea of a BTE/TBE amalgamation on the BTE board a month or so back. BTE is stockpiling cash and credit. The US North Dakota Williston Basin acreage sale for $311 million to US based Magnum Hunter was telling. Afterward BTE's CEO resigned apparently for reasons counter to the wishes of the BTE board on the pace of plans to grow the firm. Accordingly BTE has 120 million shares out. TBE 220 million fully diluted shares after the Avalon deal closes in five or so weeks. Would BTE make a deal say trading one share for every 10 TBE shares (based on BTE's closing price today around $4..25 a share for TBE) . Assume the $158 million of debt. The pro forma outfit would grow BTE production from app. 53,000 BOE/d to about 69,000. TBE's undeveloped land post Avalon buy is 417,000 acres just under half in the Lloydminster heavy oil belt. Chan needs a new CEO. He could also gain some solid heavy oil expertise and management. Clearly BTE would be in a position to make close to a $1 billion deal. I don't they they are interested in a PXX or small players. The deal would make sense. But ask yourself: Why did TBE board member Bill Trickett sell 302 K shares the last five days?