RE:RE:Capital Spending Being Adjusted
CPG would be interested in LEG's propoerty - a great fit for them. they would need to issue more equity to purchase. Given the postiive view on CPG these days, I think they could raise the cash.
LEG would need to being willing to sell. I think sharehokders would be fine selling to CPG if the price was in the $5 range. LEG is worth more than $1.70 - that is a depressed price due to the balance sheet issues.
Trent and Matt put LEG in this situation. They need to go whether the company sells or not. Very poor management skills. How can you not prepare for a lower oil price environment (it's not like this hasn't happened before in the industry). The institutiional investors have been communicating the concern about the balance sheet for years now - Trent and Matt had lots of time to deal with it and failed - even way too slow in selling the property they being selling since this past summer. Given the company's situation, that property should of been sold immediately after the acquistion.