Obsidian Energy Ltd T.OBE

Alternate Symbol(s): OBE

Obsidian Energy Ltd. is a Canada-based exploration and production company. The Company operates in one segment, to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin directly and through investments in securities of subsidiaries holding such interests. It has a portfolio of assets producing around 35,700 barrels of oil equivalent (boe) per day. Its operating areas include Cardium, Peace River and Viking areas of Alberta. Its Cardium asset is a fully delineated and de-risked asset. It is focused on manufacturing repeatable low-decline and high-netback light-oil wells across its Cardium land base. The Viking is a light oil, horizontal development play located in central Alberta. Its operations are focused on the Esther area. Peace River is a stable, cold-flow, base production asset. It operates on a contiguous and an acreage within the heart of the Peace River Oilsands region.

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Obsidian Energy Ltd > ANy news/.rumour for the HALT?

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Comment by kavern23on Nov 02, 2021 4:31pm

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Post# 34079211

RE:RE:RE:RE:RE:ANy news/.rumour for the HALT?

Entrada would give OBE all of East Crimson basically...cross your fingers and toes this is it.

JohnJBond wrote:

Interesting to Halt like this just 30 min before the end of the day.

Something postive was leaking out and supporting the share action yesterday and today.    It is positive movement, but on thin volume, so whatever the rumor was not wide spread.

This is the second unusual even over the last few days.

Last Wednesday (Oct 27) they came out with an usual News Release, which didn't really say anything that you wouldn't' expect to see in the Quarterly release anticipated anytime now.

It seemed more like an attempt to spread the good news, and publisize the company's likely very good Q3.

Now we have another similar move - Hall the stock 30 min before the end of the day.     Thats how you get people's attention.   Its a bit like dropping a china plate in a crowd - people will stop and look.

Have they just hired a new PR person who is trying to get some lift in the stock?

If its just a refinancing, then why halt?     That is a material change, but not really a material change to the share price.

Typically you halt because something material has just happenned that will cause a change in the share price, and it would be unfair for all shareholders now to know what that is.

It seems OBE has been held down for a while now - ie anytime it wanted to get over $5, it got sold down.    That is consistent with someone either accumulating for their own position, or because they are attempting to negotiate a deal based on the average price of OBE's share price over a prior period.

They may of sold part of the company - Peace River comes to mind - but I don't see why that kind of deal would be preceeded by holding the share price down.

If OBE was buying someone else, they would be running their share price up ahead of time - I don't see that.

OBE is too undervalued to use its paper to merge or buy someone else - except those who are even more undervalued - and I don't know of any one like that.

I suspect they may have accepted an offer to sell the entire company for a percentage over the share price for the last 3-4 weeks.      Maybe even FrontFour or some private equity group in which they are a participant.

If you had a few billion dollars to place, and you saw a company like OBE currently trading for a little over 1X cash flow, and you could see an energy crisis starting - wouldn't you try and snap them up.     I would.    The question is, how much would I offer?   $10/share?    $15/share?    What would it take to get the Board to accept an offer (well thats actually easy, you just give them something individually).

Very Curious to see what this news is all about.     Is it a PR stunt with minor news, or is it the real thing.

ps, that NR from last week would be consistent with OBE trying to get a stronger offer out of someone - we shall see if thats what happenned.