What the VII Generations Deal done at the Board?
I am wondering if the VII generations deal was done at the board level.
The reason i ask that question is that is seems to me that Management is putting on ice the best assets, the most mature play, and the more economically viable play in the entire Montney, Kakwa and pursuing their old Arc resouces objectives.
I really can't understand and have never witnessed it before, when a company puts their original share holder base in a miniority position, with a 1.108 share exchange deal. Then they put the asset they purchase on ice, complain about the declines, and say in a 70 plus dollar WTI commodity enviroment that their goal for the play is to improve 2% anually the declines.
The goal for the play has nothing to do with optimizing share holder returns in 80+ dollar condensate world, or extend their leading position in condensate produciton? Did ARC not just drill 7/10 of the best wells in the montney? Is the montney not the best basin in all of North America?
It seems to me that management at ARC did not really want to buy VII Generations, or they are punishing VII Generations to show who is boss, or if they just want to pursue to own objectives and put the better part of the company on ice?
This baffles me...
IMHO