So Sparta still tight lipped hunh...?On that "strategic review" process.......hmmmm
As for the rest, a typical Ho hum financial report, nothing revealing in there that we didn't already know or we weren't aware of. The only decent piece of info that's somewhat interesting is the following paragraph.......everything else is just noise.
"In the fourth quarter of 2022, Spartan announced that its board of directors had commenced a formal process to evaluate strategic positioning alternatives in an effort to enhance shareholder value. The repositioning process is progressing as planned and includes the evaluation of a broad range of alternatives including, but not limited to, a corporate sale, merger, corporate restructuring, sale of select assets, sale of a royalty, purchase of assets, the spinout of select assets into a newly formed company whose securities would be distributed to shareholders or any combination of these potential alternatives in conjunction with a robust return of capital strategy."
What is interesting here, is the wording or change in therein. Please note the following line, whihc may be the main reason this is taking so long, as this process might be more complex than orginally beleived. Which for me would rule out ANY straight out buyout of the company or attempt at Spartan buying anyone BUT would point more towards some kind of complicated merger or asset divestiture or spinoff....
What would seem very likely here, is maybe Sparta splitting into seperate entities, one focusing on the Deep Basin assets and the other on Montney. The big question here is, if this is the case, which one is Sparta keeping and swhich one are they letting go....?
Stay Tuned......getting interesting.....
GLTA