RE:RE:RE:RE:shamboner, you are an idiot....LOLI would agree qith you but MEG is not in a position of strength and hence they are trying to sell access pipeline to reduce debt and strengthen balance sheet.
but selling the crown jewels that keeps your cost low is not a wise move because the buyer wants to make a profit on operating the pipeline and so either MEG has to sell cheap enought that the buyer can afford to give them a good trasnport rate for 10-20 years or they sell for a high price and pay a higher tool rate, either way they lose.
also the BOD has to consider how how long they can run MEG in a negative CF position?
sure they ahve liquidity and they have cash, but that';s shareholder cash and I'm pretty sure they ahve also figured out that 60-70-80-90-100 oil is gone for a very long time no matter what you read.
shale is profitable at 40-50-60 depending on the play and location to infastructure and pipelines which most of it now days.
in the last 5 years while jeystone has been ongoing sage the USA has build 5 new keystone pipelines or is it 15, I forget.
and canada is still trying to get approvals for new pipelines est and west.
the board knows it will take years to be profitable again, and it will years to pay down debt to more reasonable levels , so board has to make the responsibile decision and take a reason offer for the company before it's too late.
if they refuse a fair and reasonable offer, there will large lawsuits for sure.
now what is a fair and reasonable offer?
book means nothing in a low for longer envirnoment, CF and high debt mean everything.
either way it will be interesting but it's logical to sell the company, it's in everyone's best interest..
just as it made no sense for en independent COS, it makes no sense for an independent MEG.
let's call it a day and move on bigger and stronger CND oil sands players
just my 2 cents