Another down....a dozen more to goFYI, Just in case some of you weren't aware another small junior Canadian ep called it quits and sold out. The company in question was Ridgeback Resources. I'm not as well versed in this company as some others, but i know the name and its core basics.
A couple of interesting facts going on here, the fact this was privately held & had some of their core operations in the Kaybob region. Two VERY interesting factors & trends to note. WhY? Because this follows a slew of privately held ep's that have been all running for the exits in the last few years. And also interesting to note, that shortly after Paramount divested itself of major assets in that SAME region, Ridgeback also decided to say good bye to Kaybob....I'm not too familiar with Kaybob as i don't live around that area, but looking at all these folks scampering for the exits, makes it seem like the place is falling apart or haunted in some way. Hopefully it's not the former.....
Also to note, the purchaser was Saturn O&G (link below for those that care), a small Canadian junior themselves. On further inspection, this seems more like a meger of equals than an outright buyout, and i expect more of these types of "consolidations" to happen as we move forward in the next 24 months. Also to note, compared to the Paramount divestiture, the metrics of this deal look really awful. Not for Saturn or its s/h of course LOL. Not sure why this is the case, would need further in depth DD to find out why. Ridgeback is more oily than Paramount's divested properties and they had ops not only in Alberta but Sask to. Maybe the latter point are considerd to be of lesser quality & a negative and therefore had a discount applied when compared to Albertan land.
Anywhooo, anyone who wishes to read the entire release/deal can just click on the link below. But make sure you read it quickly, because i can't guarantee SH doesn't censor/remove this post for some ridiculous infraction they consider not "appropriate" and in line with thier crazy stupid regulations OR conforming to their woke agenda. Add to that the incompetent mods they've hired to do the job, especially some with agendas of their own, and you have recipe for total disaster for this once "great" platform. They should rename SH TwitterHouse. It would be more appropriate now.
https://finance.yahoo.com/news/saturn-oil-gas-inc-announces-225700502.html
GLTA