GREY:LGVWF - Post by User
Comment by
bshort92on Feb 20, 2014 11:42am
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Post# 22230275
RE:RE:RE:RE:Who owns the shares
RE:RE:RE:RE:Who owns the shares
A buyer knows that LNV has $120 million of debt on barely 6000 boe/d production. The drilling inventory is really spread out: west central Alberta, the small heavy oil play at Lashburn and the 2100 boe/d effort in SE Saskatchewan. You get $43 netbacks. Can anyone allude to a seller getting $43 netbacks with acreage spread out across two provinces that has gotten more than say $60 k per flowing boe? Perhaps zero in on the three aggressive dividend paying intermediates WCP, SGY and TBE. They make smart agressive tuck in acquisitions, they are growing. Other players are doing the same. The Novus sale was interesting but it was all on one contiguous belt of operations. Low decline rates are a plus but so far has not brought forth a credible buyer. Why?