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Birchcliff Energy Ltd T.BIR

Alternate Symbol(s):  BIREF

Birchcliff Energy Ltd. is a Canada-based intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of oil and gas reserves in Western Canada. The Company’s operations are focused on the Montney/Doig Resource Play in Alberta. Its operations are concentrated in the Peace River Arch area of Alberta. The Company has a 100% working interest in its Pouce Coupe Gas Plant and two oil batteries, as well as various working interests in numerous other gas plants, oil batteries, compressors, facilities and infrastructure. Its Pouce Coupe Gas Plant, which is licensed to process up to 340 million cubic feet per day (MMcf/d) of natural gas, is located in the heart of the Corporation's Montney/Doig Resource Play.


TSX:BIR - Post by User

Post by goldenriviton Feb 16, 2023 10:24am
242 Views
Post# 35289727

The number 1 prime take over is BIR

The number 1 prime take over is BIRAs we are seeing in the gold space the NG space has yet to consolidate.But hedged producers like TOU can use its paper to buy out unhedged producer like BIR.The zero debt is a double edged sword as it puts BIR in a rock solid bullet proof financial position.But its depressed SP due to the low NG price means its no debt is red meat to a buyer like TOU as no debt needs to be assumed on a simple paper transaction.BIR needs to get it SP up or face a hostile take over.I warned SBBs management that its low SP was going to get a low ball take over a few weeks ago and bingo it happened this week.BIR will get a take over make no mistake about it.TOU or any buyer can scrap the $214 million BIR div and use it to pay off the paper take over on a TOU share buy back.Its a win for TOU to buy BIR before the NG price recovers.
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