One final good-bye.....Well, it was interesting & intriguing while it lasted.........but this was not THAT surprising to see this controversial deal pass. What would have been a BIG surprise, was if it did not. My only interest reamaning regarding this deal, is HOW the voting numbers turned out. To get an idea on how the "KEY" players voted...........
There was only one entity that could have made ANY difference here, you all know WHO that is by now, and i'd be VERY interested to see which way they went!
As i've said before, i will not be selling this anytime soon, and will need to think if i want out at these insane level before the deal is consumated. As i will definitely NOT be taking overvalued StrathCona paper. This levels Pipe is trading at are just crazy, and purposely done by those in control of the stock (FYI Pipe shares would have been $3.50+ without this 8rappy deal!) with WTI $90+ and YES......even with NG prices in the dumps. For me it's a not a question of profit but one of principales.
As for the Piper & it's s/h, you know you're in a bad place, struggling, and the deal totally sucks when you're being EVEN outpreformed by someone like Birchcliff.....who's another poor, struggling O&G outfit in the same dumpster fire along side us. I may even have to change my nomination for Top Doggy O&G for 2023. Which was previously claimed by & given to poor ole Birch. Because if they pounded Pipe stock down to this level, with intent, when oil is at trading $90+, i can only imagine what will happen to the stock when oil comes all the way back down to ~$70 in the coming months. With no cushion whatsoever to protect it's stock or mitigate the downwside. No matter whether its pre or post the deal being finalized..............
Oh well, on to the next one i guess.......but for now my shares are staying put until i find a better home. I don't know about the rest of you, but for me, even though i did not lose any money here, it was a BIG waste of time and a BIG opportunity cost in the end. All due to some backroom bolier room wheeling & dealing, corruption & underhanded tactics to screw investors. I assume for most here, they've either made NO money (if they were smart to DCA or buy in 2020/2021) OR they took some rather large losses if the were inactive holders of more than a few years. Which is unfortunate & sad with oil prices so high and the sector doing relatively well for the last three years.
This is definitely my last post here and will be moving on to greener pastures.......hopefully a much better outcome will happen there than it did here...............
As a final statement, i wish everyone well, in their health & fortunes and hopefully you'll have better luck & a more enjoyable experience elsewhere than you've had here. Therefore good bye & so long everyone, it was fun! Adios & good riddance.. .....to Painted Pony II......errr....... i mean to the Piper too............,..8)
GLTA