RE:And stupid people are paying 68 cents?Before the news was announced and being that Elkwater was trading at such a depressed price, I valued the company at it's current production(170 boepd) and the 100+~ boepd shut in or held for sale at .75 cents, take out the debt and had a share price of .60
No-one was even considering this deal Elkwater signed for the Rigel BC assets, which to me is a positive wild card.
Elkwater had also been active at the land sale, Quietly, picking up land(100% owned) south east of Anegada Energy where they are going after Viking.. See attached Link
https://www.tight-oil-canada-2013.com/media/downloads/17-d1-1400-larry-kovac-anegada-energy-corp.pdf
Look at the cash flow ELW was churning out compared to last year....In my view, the new management saw the undervalued quiet little company that just needed some deeper pockets to work the potential of the lands...
At
most I see a 5 for 1 roll back.