RE:Like Pushing a Ropeenergee wrote:
Page 3 from MD&A
“The sharp rise in global oil prices and regional natural gas prices throughout 2021 and into 2022 from lows in 2020 is making it more challenging to close M&A transactions.”
From News Release dated March 31, 2022
"In the nearer-term, Valeura intends to leverage its strong financial position toward growing by way of mergers and acquisitions ("M&A"). The collective international experience of the Company's management and board defines a broad focus area, including jurisdictions with
significant deal flow and expected relatively low competition for assets. Valeura is actively pursuing several M&A opportunities, targeting near-term production and cash flow, plus follow-on investment opportunities to enable mid-term growth. The company remains in discussion on several opportunities and will disclose further details in due course as appropriate. The company remains squarely focussed on only executing transactions that will generate material value for shareholders."
From Page 4 of Investor Presentation
"Cash in Q1 2022 ~C$0.59/share"
Hard to do a deal when your currency is undervalued stock. A reverse takeover makes more sense and hopefully this management group is left on the curb.
I don't think anyone is surprised that it is more challenging doing an accretive merger at high oil prices. What is surprising is that incompetent Sean Guest remains the CEO of Valeura.