RE:The problem with BirchJust a few comments to both barney & Donhow's replies. First just to clarify my thoughts on the NG vs oily debate. In the past, being weighted towards NG like Birchcliff wasn't a big problem over the past 30 years, up to about 2010, but going forward to the next few years it's a totally different story. You want a more balanced approach like super cap Toumaline than being one dependent on one single commodity like Ng. Things have changed over the past 10 years, and ep's like Birch have to change along with it or fade away.
Secondly, the issue of Birchcliff being an acquirer or being acquired themselves. Both options are possible but i believe that the latter is much more likely than the former. I would put the probability quite high that one of those scenarios plays itself out soon and would split the probability into 60/40 in favor of Birch buying someone. But of course that is NOT set in stone......
GLTA