RE:RE:Acquisitions?Great ideas, thank you Oldnagger. Top quality post as always. I am with you on giving up the dividends (and possibly increasing debts while the interests are still relatively low) for another lucrative acquisition. Cheers!
Oldnagger wrote: My first choice would be themselves, by buying back some of their highly undervalued shares. After that there will still be a pile of cash flow left over. My bet is that management is smarter than I am ,witness both Corrib and Wyoming ( which will now take advantage of both new pipeline egress and longer reach horizontal drilling ) Therefor I would forego a dividend in their favour, or If I got a dividend I would try to re-invest it before my wife and the tax man found out about it LOL !!
The above being said, there are abundant opportunities in Western Canada for new crude drilling as extra pipeline capacity becomes available with the TMPL, Line 3 Cap reversal etc. There are probably a few players left with undeveloped light oil properties but the main play will probably be SAGD. Perhaps they could JV with Ipco to develop Ipco's extensive properties at Blackrod. As you may know, they are currently JV'ed together in France for Brent crude and rumour has it that they both have been trying to sell off their properties !!