GREY:TBTEF - Post by User
Comment by
bshort92on Jul 23, 2012 9:30pm
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Post# 20144615
RE: $2.30 is a bargain
RE: $2.30 is a bargain Now I mentioned Northern Blizzard in the last post for a reason. Keep in mind back in 2010 this private concern paid $975 million for roughly 15,000 BOE/d heavy oil production from today's headliner Nexen. Since then they have drilled for heavy oil in the Lloydminster corridor on the former Nexen properties. This outfit is primarily controlled by Natural Gas Partners a concern that put up substantial capital in return for an ownership stake in CR when CR purchased 10,500 BOE/d privately held Caltex for $620 million last year. OK now you see how the players are all kind of in the news... rather interconnected (CR's chairman is a TBE board memeber) and the prices paid for assets in 2010 $65 K per flowing boe by Northern Blizzard for the Nexen heavy oil assets, $59 K per flowing boe/d by CR for Caltex's 65% heavy oil assets and now to today where CNOOC takes out Nexen for a sizable premium off there closing Friday share price. Stay tuned...