RE:RE:RE:RE:gxe cjCardinal and GXE would never happen...it wouldn't make sense on so many levels.
Oil pants came from Bonterra board. I think oilypants is this poster named Alexkeaton...same person. Alexkeaton made a post last week that Bonterra's would have a press release stating operations update and also an update on thier bank debt coming due...Bonterra did release a press release but it did NOT mention this at all. So I called out Alexkeaton that he should never post again if he is just posting madeup lies...so then Oilypants came and start attacked me which is Alex other stockhouse accoount...likely same person. Alex couldnt attack me as I was right...so he had to do it through oilypants.
Oilypants/Alexkeaton are stuck in deep red ink with Bonterra.
To even suggest GXE and CJ would merage to then buy BNE is a wild BS fantasy.
Next Oilypants will be recommending to drink paint thinner to get drunk instead of Crown Royal and Ginger Ale.
CJ buying GXE would HURT CJ metrics on every level.
CJ produced 18-20k boe (depending on capital spent) and we have 79.5m in decomissioning obligations...buying GXE would add 85M in decomissioning obligations for only adding an extra 5500 BOE. Why the f*ck would CJ want to do that?
Plus on a strategic level CJ doesn't have properties near Gear stuff in Sask...
And GXE has a 27 percent annual decline rate...DOES THAT HELP OUT METRICS???
CJ already has a "gear type" asset base with our central assets unit that produced heavy oil.
If CJ buys anything it will be a long life light oil property that can shield CJ better from the weakeness CJ has when oil prices crash or ever weaken.
And with Murray Edwards as a significant share holder...CJ doesn't need another companies cashflow to buy a property if a good deal comes along.
CJ and GXE are probably competing on future bids for stuff as it comes for sale.
The spring bank reviews will likely put property out on the market for GXE and CJ to look at.
CJ is just in a position to be able to afford a larger deal.
And if a deal doesnt come along at attractive metrics to CJ....CJ doesnt need to do anything as the current business plan will push CJ to 3-4 by Dec 31 if oil prices hold.
Merging with GXE would wreck our chances of ever hitting 3 bucks, this year.
The perfect asset type for CJ to buy...but who knows if any is for sale...is waterflooded bakken stuff that has declined already. Stuff like that is worth taking some more decommisioning libalitie on.
But more heavy oil properties are not worth adding to the decomissioning liabilities as CJ has done so much over the last 3 years in getting this down.
CJ was spending way more then companies like BNE in 2018 and 2019 on cleaning up old wells. Been at least a priority for CJ as money allows.
I am not saying GXE will go down or up from here...but a merger makes no sense.
Backinblack1000 wrote: Oily....do you have shares in gxe? Thought I heard they were on the ropes financially? Thus instead of merger, just a takeover...and save premiums....or not??
oilypants wrote: cjgxe strip pricing -year ends 2021 cj 130 million net debt -year ends 2021 gxe 10 million net debt -gxe flowing cash 50 to 55 millions -cj flowing cash 105 to 110 millions -g&a saving NO DRILL compensation mmanagement gone broker say with saving plus unhedged flowing cash close 200 millions strip pricing debt not even 1x cash flowing oilypants newco = cj+gxe -200 millions flowing cash -140 millions debts less 1x cf to debts oilypants newco cjgxe -buy light tight oil good drilling location cardium or maybe something else but payback in one year(he say 80-100% at strip irr) Whitecap trading 5x ev/dacf oilypants newco cjgxe plus growth lto asset 5x ev/dacf = overnights 3 bagger for cjers more 6 dollar share in oilypants newco -bib1000 hope u understand maths better then english -erin nuttal becomes genius banging heads together to make deal and so much money -fund getting much more money flowing into erin nuttal broker say no more questions u not client!
Backinblack1000 wrote: Losing me in the syntax...google translate....you implying cj.to will merge with another 200 -
newco 200million flowing cash 1x debt 3 bagger POP? And if nutall had his way (7%), with murray (8%), the merger of no drills work towards mini wcp?? oilypants...why do you not go and get a girl that can translate for ya??
oilypants wrote:
spoke to broker friend he is OILMAN not accountant told me story about GXE i listen.Eddie Gilmet deleverage company to tell bank stick finger in hole and swivel as he has company back and in control. Eddie big plans erin nuttal accumulating big stock position GXE not down wit oil hug 49-50c 4 weeks chart guy says more accumulation for TOP PICK i say what Eddie plans????broker energy guy NOT ACCOUNTANT says GXE everyone knocking down door for deleveraging vehicle to merge high debt NO DRILL companies.i say give names dont keep me hanging he say CJ NO DRILL merge newco 200million flowing cash 1x debt 3 bagger POP he also say more JOY NO DRIL and he is boss so big problem for some. EDDIE too guy smart ceo but other NO DRIL not so smart guys have corporate entitlement want only to keep job. VP operation drilling pay down debt?wot these guys do no need job sit at home underpants watching tv.NO DRILL no compensation EDDIE take helm but some fight hard for privilege erin nutral bang heads together he buys millions share to make deals tell NO DRILLs to talk. broker friend says after EDDIE top respected guy make GXE into mini WCP buy light oil asset drain flowing cash from newco into bread in butter resource. broker friend such tease i say give up who resource play and tells me CARDIUM big chance BNE Georgie step aside or buy asset merge or find another player. Newco low decline plus light oil additions huge bagger!!!!!