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Fresh Tracks Therapeutics Inc V.BBI


Primary Symbol: FRTX

Fresh Tracks Therapeutics, Inc. is not engaged in any business activities. The Company is in the process of dissolution.


GREY:FRTX - Post by User

Comment by mrmomoon Apr 19, 2023 9:31am
107 Views
Post# 35402639

RE:RE:Just a small update.......

RE:RE:Just a small update.......Just a few comments to your reply Mr. EstavanO.......


"I think the CPG deal improves takeout prospects for Pipestone and improves valuation of assetbase"

Well sure, it improves the prospects for anyone that matters or close by, along with the Piper to some degree. But imho, the BIGGEST winner here are Kelt & HammerHead, as their assets & production are more in line to what was sold to CPG. Meaning more oily & less gassy. Pipe benefits BUT they are more of a condy/ngl play and  lot more gassy than the two mentioned above. Also oil output is virtually non exsitant for Pipe, which IS & always been its achilles heel.

"Paramount could use Pipestone for gas plant synergies."

I did consider Paramount a strong contenfer, and did list them as "potential" buyers of Piper over the last few years. Just a notch below guys like Kelt, HH, NVA, & SDE. The problem with POU being the one is two fold. One is an action they took a few years ago, and one is an action they made recently. A few years back, they made a "significant" investment in Nuvista, acquiring an interest in the company. I'm assuming they STIILL have that interest and haven't unloaded that position. Someone correct me if i'm mistaken and that's no longer the case.

Secondly, their most recent manouvers, by divesting a large portion in Kaybob. Why would they unload those just to pick up Pipestone just a stones throw further north? Doesn't make sense to me to change a buck for 4 quarters. BUT is does make sense if they intent to MERGE with someone else and Pipestone doesn't fit the bill here any longer. But a NVA/POU marriage does and is more likely.

As for CPG, they are DONE for the year, and they are NOT factor in additional or meaningful M&A anyttime soon. The SDE was a big deal, so count them out until early 2024. The likely canadidates are still Kelt, Nva, HH and "maybe" Vet.....or the totsally dreadful possbility of being Canadian unNatural, which the last option, is increasing in likleyhood as time passes.........unfortunately. Everyone else outside this list either has already put themselves out of contention due to having already made a significant move or having absolutely no synergies and/or anywhere close to being accretive for the buyer.

GLTA



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