RE:RE:WHAT happened here?????Right, that was my first thought when I saw that they were looking at strategically selling some of their assets - this one is written down to zero, so seems like an easy sell, at least in terms of picking it as opposed to what the marketplace will pay.
Also I thought it was an interesting conference call given that the interim CEO was making comments about how TWM was essentially chasing after lots of small acquisitions, not all of which panned out and they need more discipline.
This Deep Basin one I think was a perfect example of that - they had to issue lots of shares to AltaGas a few years ago with some heavy cash to purchase that facility.. and at the end of the day, it's non-core and is not cash flow positive so it's an utter failure. This is my feel as to why the prior CEO was given the boot - he was not disciplined with the capital of the organization and just chasing after growth instead of chasing cash flow. The Prince George facility as an example looks like it just prints cash - so instead of just buying lots of junk, they need more discipline.
The stock is trading down so low that expectations are so low here - I increased my position pretty heavily today.