RE:RE:will CNQ initiate a buyout of CJ ?That...and also the fact CNQ would have bought us out at under 1 dollar if they so desired in 2020...but number 1...we are too small for CNQ...and CNQ doesn't have an interest in convential oil wells. CNQ can expand horizon oil sands much cheaper then buying CJ out.
CNQ is content on buying BC natural gas assets for pennies on the dollar...and they can afford to wait for 2025 and the opening LNG plant. CNQ is successful as they buy at the low when everyone is broke.
I will tackle BC gas eventually but too early for that.
The lack of a Canadian oil major company looking to buy smaller assets is one of the reasons why the Canadian sector is so depressed. Nobody has money...it is bleak...if you are looking too sell assets.
If Canada had a healthy market...I think banks would have pushed companies harder.
But what can banks do if no buyers for the assets lol. Finally thawing abit.
Pension fund have gotten their a** kicked on oil assets...and isn't much liquidity in buying a small company like CJ.
Guys...CJ is still a very small company...in grand scheme of things.
Probably barely big enough for Eric "the nut" Nuttall.
The only two potential companies that I can see being interested in CJ is number 1...Whitecap.
Whitecap needs low declining assets to keep the divy safe. WCP is also in Alberta and Sask and would know our assets.
The other is international petroluem corp...they have fairly wealthy swedish backers and have stated long term they want too grow.
So far off top of head...IPCO has bought granite oil, black pearl (heavy oil) and cenovus suffield assets.
IPCO has been one of the most active. I can see them looking to get to the 100,000 BOE size in five years.
But any dealing involving share swaps are very tricky too pull off.
CJ was created by management doing deals. CJ management knows how to do these transactions.
stockfy wrote: It's very likely that CNQ will acquire CJ given that billionaire Murray Edwards recently invested in CJ and holds a big stake in CNQ too.