Loukas valued Obe at $17.50 US in 2017
Here is proof that even Loukas knows that Obe is worth North of $20 US today. Before he became CEO he valued Obe as high as $2.50 US presplit. Post split that is $17.50 per share. That was before Obe owned all of the Peace River or all of the tax pool or the lower debt from that date to now. This is an indictment of Loukas's ability to create shareholder value in his 4 years as CEO. Based on his valuation he surely believes that Obe is worth North of $20 U.S today. The stock currently sits at 8.56 US. Sorry for all those cheerleaders and pumpers ie Masloser but that my friends is the truth! I don't like it any better than any other investor but I live in the real world and track records matter.
Activist FrontFour is said to push for sale of Obsidian Energy
WED, DEC 13, 2017 - 11:31 AM
[NEW YORK] Activist investor FrontFour Capital Group is urging Obsidian Energy to explore a sale, arguing the company could fetch twice as much as its current share price, according to a person familiar with the matter.
The decision to push for a sale comes four years after FrontFour started to build its position in the embattled Calgary-based oil and gas producer, which was formerly known as Penn West Petroleum. It's now FrontFour's third-largest investment, according to data compiled by Bloomberg.
It also comes after Obsidian Chairman Rick George, the father of FrontFour co-founder Zach George, died in August.
FrontFour, based in Greenwich, Connecticut, said last month it owns about 5.6 per cent of Obsidian in stocks and options and has met with management to discuss ways to unlock value for its shareholders. The activist fund believes the company could fetch C$2.75 to C$3 a share at auction, or almost double where it traded Tuesday, said the person, who asked not to be identified because the matter is private.
Obsidian's shares have fallen 36 per cent this year despite efforts to pay down debt by selling assets. The company, which has a market value of about C$767 million (S$806.8 million), sold a group of assets in Western Canada last June to Teine Energy for about C$1.1 billion.