RE:RE:Board change - bylaw amendmentsWell...and not a mention at all on what current production is.....
Remember that slide on the investor presentation is just a "FORECAST'.
BNE seems to be the only cardium player doing majority only 1 mile wells.
Even Inplay did 3- 1.5 mile wells in Pembina in Q1.
1 Mile wells have a lower capital cost and intially produce similar to a 1.5 mile well...but the wells don't hold production as long as a 1.5 mile well.
Tim14235 wrote: Wow, Fink has been kicked off as Chairman. I cannot imagine that was free-will for him. The newbie is now chairman. Sounds to me that there is conflict in the board room (again).
It is really a shame that these two companies could not come together. I admit, I was wrong, I thought it would go down.
Until these companies clean up their ARO it is hard to find other dance partners. Combining the ARO portfolio, asset portfolio, debt portfolio just makes too much sense.
I am not sure how BNE shareholders think they are in a good position. Debt is so high that it will take 18 months minimum before they can consider a reinstatement of a div. Will this cycle last that long? And without liquid trading, what the the premise of owning stock here?
Combine the companies, issue unsecured debt, and reinstate the div. This can be done in six months with the combined company. This would weather the next cycle since less dependenance on a RBL not to mention lower break evens.
As an OBE shareholder, I would welcome an offer from you guys.