RE:RE:This stockRespectfully, a couple of things I would add.
They cannot stay in limbo forever their loan facility has an end date.
The upside with a deal may be limited. What's a double or triple when one can get that including dividends potentially on other plays that own wells.
tinkvid wrote: I don't think its becoming useless.....but it is not your day to day high flyer like others, i will agree with you there.
reasons why I am holding and others' reasons for holding or selling( I personally have sold a bit higher but will retain a core position) are different.
- Institutional interest in the shares is extremely high
- First Reserve opted to give up their Quarterly Divy of preferred shares and convert to all shares (.60 cents) WHY would first Reserve give up guaranteed quarterly divy payments for Shares.....Why is First Reserve sticking around through thick and thin with Petroshale/Lucero Energy????
- The direction of Enerplus to divest all CDN operations and focus on the ir USA assets(Bakken being the main focus)
- Bruce Chernoff (straw that stirs the Drink) In my opinion He is very well connected North and South of the border
- Management team brought in from Torc Oil which included Chernoff
- Paying down debt
- Devon Energy NEW Chair is a senior advisor to First Reserve Corporation.(Second largest shareholder of Lucero Energy Corp
- First Reserve have also invested big money in infrastucture in the Bakken through questwood equity partners but I believe they have divested all or most of those holdings.
At some point, and with all of Chernoff deals, I will get a nice surprise.....He rarely sells his equity in the open market and is usually done by merger or take out.....Hoping the take out is at higher prices than where they are today!