GREY:LSTMF - Post by User
Post by
darkstreamon Sep 05, 2015 11:06am
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Post# 24081343
Would Buying SGL Make Sense?
Would Buying SGL Make Sense?Spyglass produces 8000 boep and has a 60 million debt due by the end of the year. Their total debt is 185 million. They have 128 million outstanding shares. Last year LTS sold around 6500 boep to CPG for around 700 million. 60 million in cash and an all share deal would get us 8000 boep. A 1for2 or 1 for 3 could work. We don't have to worry about dilution at this point. If oil prices recover this would be a steal of a deal. LTS has nothing to lose at this point. Time to take a gamble. Does this make sense or totally out to lunch?