RE:RE:RE:WaitingDoug, I agree, under ideal conditions and a healthy oil price environment, a good case could be made to hold onto the company. But given that Stella is two years behind and the BOD is VERY long in the tooth and probably needs to be replaced soon, I don’t see this happening. “Great Britain’s governance code says boards should annually explain their reasons for determining that directors are still independent if they have served more than nine years on the board” and there are a number of board members that are at or beyond that mark (see Globe and Mailhttps://www.theglobeandmail.com/report-on-business/careers/management/board-games-2013/countries-set-out-rules-on-directors-tenure/article15574442/).
So holding on to the company increases the odds that the old timers will never cash in on their options. That won’t happen. They’ll sell it this year, once the FPF-1 is on site.
So the question is, for how much. If the FPF-1 were to be completed this spring, how much could we expect the share price to rise? If oil were to skyrocket to say $50.00 by the summer (personally I don’t think we see stable $50 oil until 2017) we could certainly see the share price double to say $1.20 and with say a very generous 50% premium on a sale, we could see upwards of $1.80, give or take. But, in my opinion, that is under ideal conditions. Under less ideal conditions, like more probable $40 oil and a 35% premium we could see something much less. But regardless, I do believe this company is being sold this year. It will all come down to what the environment looks like when it comes time.