Close..Kinda a weak close compared to daily highs for alot of companies...IPO, CJ, YGR, OBE...
At least we closed in the green...take it as a win for the day.
I cant believe the market reacted favorable to surge energy buy of fire sky. Issuing over 11m shares...fairly close time frame to after doing a share rollback consolidation...only to get 1500 BOE of production. Seems like alot of shares too issue IMO.
Dilution at these prices could hurt Surge if it ever tries a future divy.
Fire Sky is drilling alot so how stable of production number is 1500 BOE.
I have my fingers crossed that Entrada will eventually take OBE stock.
One case in which dilution would make sense if on the table.
Look at OBE's last investor presention and OBE and Entrada are top two for oil production average in willingsdon green part of cardium. Marriage that makes sense.
Hard to tell what Entrada is worth based on public information availabe.
I would guessimate they are worth at least 80m...maybe 100m.
Hard to tell as Entrada does have quite abit of flush production.
Even if OBE has no transaction in the works...pretty easy to see the push is on to get production to 28-30K in the near future. Three rigs will help. Peace River wells have potential of 200-350 BOE for first 30 days.
Getting to 28-30k will also attract more analysts and attention.
Future is really bright.