paramount resources and MEGI don't have the exact history between these 2 companies but I do know that POU still owns 3.7 million shares of MEG and that they owned a lot more a few years ago but sold the shares to rasie cash for their exploraiton business and general purposes.
I beleive POU received the MEG shares as payment for buying the surmount property, but I have not confirmed that.
now POU is run by the riddell familiy and they have interests in many other O&G companies.
The patriach is Clay Riddell and he is the t. Boone of the north or maybe T. Boone is the CFalyton of the south, both men are visionaries in their field.
now what does POU have to do with MEG now?
well they still own 3,7 million shares of MEG.
POU has a private oil sands company that is developing their own SAGD project called Hoole. but they also own thousands of acres of oil sands leases either directly or through ownerships in other O&G companies.
Clayton like buying long term assets on the cheap.
MEG share price valued on it's long term proven and probable reserves is still quite cheap.
so what am I saying?
it's possible that POU might start to buy up MEG shares again to replace the shares they sold which I beleive were around 10 million if not more??? '
why?
well if Clayton believes in the long term and is developing his own sagd project and he knows that others might be trying to scoop up MEG on the cheap through short sales and manipulaiton.
Now the POU has a much stronger balance sheet after their asset sales and the current and past connections with MEG, I beleive that POU at a minimum will increase their ownership of MEG to at least 10 million if not 20 million shares.
This should add support under mEG's share price and make any future asset sales discussions less one-sided.
I wish there was a way of proving if POU starts to buy more MEG shares before they report it in their quarterly reports, but even that information will go a long way making MEG a strong oil sands company with future growth.
just speculating and I am a long time POU shareholder as well so DYODD