RE:Saturday...Really the only downside in my view in short term other the chance of covid/commodity weakness is if OBE does a takeover. Something like that can push OBE down temporariliy.
Entrada is most likely target. Any land map shows this..not much too debate here.
Interesting part is one of Entrada's largest shareholders (they may own almost all of Entrada not sure) is that Azimuth Capital.
Interesting part is Azimuth recently sold their Timerock (which Azimuth owned alot of) to Whitecap and they accepted WCP equity on part of the purchase price.
Whitecap would never be interested in Entrada as they have dont have land their but not surprising on Timberock as WCP is already there.
It shows Azimuth may be wanting to get out of their portfolio of smaller private companies by selling Timberock and Entrada is very likely for sale right now.
Maybe OBE can snag something here in enxt 6 months. Just need Entrada to drill one "soft" 2 well pad to put the squeeze on for a deal.
Even if OBE goes down to 4.40 on a Entrada takeover...hope we do it if it out there.
Market may take us to 5.50 on news on flip side.
OBE should be going for a goal of 20 dollars plus and not 10 bucks.
ATB seems to be a more agressive lender this fall and maybe they could help us do in financially. Even if Azimuth could be convinced to take OBE shares (which I dont think is hard part)...getting debt financing for cash part of any deal would be complex as f*ck and take time....
Can't see too many scenarios in which we dont get Entrada over next two years.
Still too many small companies in the Cardium and a lack of debt markets I think has keep this status quo so far.