RE:RE:RE:RE:RE:RE:RE:Happy Capitalizm ya filthy animals delek is a conglomerate and not what i consider in the same league as a shell, exxon, bp, statoil etc as far as oil production goes, which i consider to be the majors.
delek could have changed it's tune on where it thinks oil will end up since buying into iae, not many figured what is happenening in the sector would last very long, alot has changed imho.
delek knows exactly iae's situation and my guess now is that they will do nothing and wait for iae to falter and pick up the pieces it wants or possibly exit their position. there is no way i see them paying what crow and gekko think plus the debt for something that doesn't have a long reserve life. it is possible they do make a bid sooner than stella but if they do I don't think it would be for much more than what they paid previously but the more i think about it the less i see them making a bid at all.
doug says he is 85% invested in oil related stocks, anyone that would do that (and in a commodity for that matter,lol) should be committed as far as i'm concerned, that is pure negligence and lunacy. to put that percentage, 40%, into one stock with a management with a track record like pofs management has is nuts.
https://www.stockhouse.com/companies/bullboard/t.iae/ithaca-energy-inc?postid=24805411 cheers ferret