GREY:AVNDF - Post by User
Post by
tulsateaon Oct 18, 2012 7:31pm
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Post# 20500785
Provident
Provident I believe the closest situation to AVF;s current situation was Provident Energy. It was a midstream and upstream dividend payer. The midstream also had a large marketing component similar to Elbow River. Provident was a much bigger operation than AVF. Its share price and operational performance was not very good. They brought in a new CEO.
He sold off most of the upstream that he could and spun out the rest of the upstream in a deal with Midnight Oil which then changed its name to Pace oil and gas. He then improved the operations of the midstream and recently sold out to PPL. One of the major reasons PPL bought Provident was the marketing group. In effect, he cleaned up the company and made it so it could be sold.
Right now I believe that Elbow River is a hot commodity. They could easily find a buyer.They are cleaning up the company so they can do a deal with Elbow.