GREY:STPJF - Post by User
Comment by
nikeherculeson Jan 07, 2014 12:06pm
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Post# 22065820
RE:Any Rumors On Who Is Interested?
RE:Any Rumors On Who Is Interested?I don't have a specific candidate, but I did manage to get some tidbits:
1) CEO depressed during Christmas party - was a deal immediately forthcoming after the sale announcement? was it a lowball offer? Was there any interest? who knows....
2) Chad Harris (VP Exploration) was fired due to messing up the well drilling. This was anounced on November 6th.
3) "Any offer will be a lowball offer"
4) The oil is there, but they are acutely aware time is running out. I had worked out breakeven occuring in Q3 of this year - so obviously I am missing something from my projections.
Looking back at the December 7th release, STP calls for making $14 million per quarter on 7,000 bbls/day. Given those numbers, why put the company up for sale if you could simply use 11 months of cash flow to pay for the $51 million expansion on Pad 2?
5) Stress levels extremely high in upper management. Options worthless. Key people looking at moving on.
I sure hope zanadu123 is right! Congrats on getting some at 10.5 cents.