GREY:CNKEF - Post by User
Post by
stockfyon Jun 13, 2017 5:27pm
509 Views
Post# 26358599
The Bison Fund and HMQ own 50% in Chinook Energy!!
The Bison Fund and HMQ own 50% in Chinook Energy!!See the latest Sedar filing. As another posted noted, the Bison Fund bought slightly above 12% in CKE and filed.
Her Majesty Queen of Alberta (managed by AIM) owns slightly above 37%.
So just two funds own 50% in CKE!
So the suitor can't acquire CKE at a discount relative to the peer group. The strong hands are not novice retail investors who sell at 31 cents ignoring fundamentals. The strong hands will sell CKE at a fair price relative to the peer group.
Based on CKE's current Enterprise Value of just C$41 million (!!!!!), CKE's Montney acreage (50,000 net acres) is currently valued at just C$800 per acre!
In the meantime, the Montney deals are at C$4,000 per net acre and the Montney peers including our neighbor Storm (SRX) trade above C$2,300 per acre.
Leucrotta (LXE) with 2,700 boepd (75% natural gas) currently trades above C$3,000 per acre!