RE: RE: Go Spyglass, Go! :- ) Well said ClearVision. I am not new to this board and agree with your comments.
Pace has lacked direction since inception. I do not know what management's
problems are but they clearly have not delivered. Pace has substantial reserves
and a good production base but management has not exploited these assets
very well. With a $90 + oil price pace should have had rising oil production, declining
gas production and shown better progress on its longer term projects.
Charger brings with it some excellent oil lands that can be exploited in the shorter term.
This fits in well with Pace's shorter term oil prospects. The two companies combined
will be able to boost oil production meaningfully for several years providing increased
cash flow. This will also allow them the time that is needed to bring on Pace's longer
term oil projects. Time is also important since the gas assets will not be a money maker
any time soon. Increased oil production is the road that has to be followed and Charger
lands are one of the keys.