Reply to Seppelt IIMy last words for the day......
Seppelt wrote:
"May still be good deals based on current oil prices and in the long run but I wouldn't bet on SDE going after PIpe and paying a huge premium to market prices. Riverstone and GMT recently added a large amount of common shares at 85 cents and everyone is posting here about a takeover "tomorrow" at $6 or higher. Definitely not SDE, not these two guys, the Chairman and CEO, if you look at their past deals."
I usually don't insert myself into others conversations, but i really need to bud in here to clarify a few things. Not sure what your motivation is here Sepplet, posting comments trying to downplay an obvious takeover in the works and blaming Pipestone for certain failures. Though there might not be a TO tomorrow or even one by SDE, something definitely up and from the looks of it, has been for some time. Your attempts here to deflect really doesn't add up. There was a valid reason for the conversion of debt to equity at 0.85, and we're witnessing it in real time.
As for past deals, your not totally accurate on what Spartan HAS PAYED for the assets they've accumulated so far. Your partially right, they don't always pay the "big bucks" to buy assets, BUT they're definitely not always Scrooge like CNQ, who can afford to be like that btw, and have payed DECENT premiums in past deals. They didnt pick up ALL their assets at rock bottom prices or in BK. The primo stuff they've bought was always payed with a generous spread. So please don't distort the facts here. I understand why you're doing it, but i suggest you rethink your tactics.
"The fact that PIPE is trading close to 52 weeks low is a reaction to Q3 but shares can easily recover from here given some time and strong oil and gas prices. The co is not ready for a takeover, needs a few good quarters showing the management can stick to its guidance, execute and no more negative surprises."
Bullocks!!!! With a Capital B! The fact you're posting BS like that shows what your REAL motivations are. You're starting to sound like IndianJoe posting stuff that doesn't make sense or that you don't have the ability to see. Blaming uneventful Q3 for the stock being at 52 week lows is WEAK......very weak. Nice try.... but try again. Are you getting some pointers from good ole IndianJoe?
But don't get me wrong though, i completely understand your motivation here to distort the facts, misdirect and deflect but it will not work.....not here. The smart folks who've been investing in this space for a long time and KNOW the industry won't fall for stuff like that. Maybe the new, novice & inexperienced might but not the old dogs. And btw, the company has been a sitting duck ripe for a takeover for at least 3 years!!!! The recent rumors & reports by having received at least 3 potential offers alone this year should be enough evidence of that.
GLTA