BAM CONSPIRACY against SCS shareholders
I believe BAM "created" the drop of SCS to buy it as low as possible. BAM created the negative sentiment, the lack of news for 5 months etc. The highly incompetent CEO of SCS (that Colin Witwer) facilitated BAM plans too....he overspent for 3 years in a row as he admitted at the latest report....or maybe he is part of their plan.....not for free of course.....
COLIN WITWER should NEVER find a job in CANADA apart from a TRASH COLLECTOR.
Fortunately the retail shareholders understood the BAM conspiracy and have sold ONLY 8 million shares so far out of 45 million shares they own. This is a very small amount of shares obviously.
Now BAM plan is to merge SCS with ISN and UNLOAD them as one entity to the public with a NEW NAME.
ISN has UNDRAWN CREDIT FACILITY equal to 35 million which is more than enough to cover the reduction of 30 million from SCS credit facility. The new entity will have 5,500 boepd production and a credit line of ~$100 million which will be fully drawn. After all, the new entity has no debt problems and if it sells some non-core assets (primarily from the former ISN there in Puce Coupe region), the debt will be significantly reduced.