new shares trading TODAY
Hey Everyone,
So Spartan shares are trading post consolidation today. New ticker will be SPE under Spartan Energy Corp. 221.6 million shares outstanding or 257.6 million shares fully diluted pro forma. GMP states RPL transaction to conclue by March 31/14 with current combined total production of 6,150 boe/d(93% oil and NGL's), a base decline of 24% and reserves of 27.4 mmboe(2P). They maintain a Buy rating and Target of $4.00 with a risked NAV of $3.03/share.
In my opinion, cutting the dividend will be a great idea as Mgmt team is very strong and I am familiar with them. They will take this stock much higher with a takeout happening as early as fourth quarter.