OTCPK:VGIPF - Post by User
Post by
blondeBondon Jun 20, 2013 9:23pm
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Post# 21552343
Nuttall on BNN tonight
Nuttall on BNN tonight He's still holding Renegade stock, about a 6% weighting in his fund, average cost is $2.50 or $2.60:
- he doesn't think the company will be in its current form in the next month or two; they're about a month and a half into the strategic review
- he has met with several people involved and he's still hoping they will get some value out of the name
- RPL is trading at the PDP reserve value
- it's ironic that people question the sustainability of the dividend, when the all-in payout ratio is less than most of the established dividend payers
- there will be strong interest in both the Viking and the SE Sask assets so he's looking for a higher share price which is why he still holds the stock, both in the fund and personally
- most likely outcome is that they sell the Viking assets; there are several players and some private players expressing interest
- he's hoping that a better capitalized company (whose paper he wants to hold) will come in and make a premium bid and unlock value thru the combined entity
Later in the show Nuttall talked about Twin Butte expanding into lite oil; I'm wondering if he thinks they'll make a bid for RPL's Viking assets.