RE:Eric Nuttal is not a technical expert Your post is unnecessarily skeptical. The answer to why Ranger was willing to sell to BTE for such a great price lies in what has happened since. Private shareholder, Juniper, sold their shares as soon as the lockout lifted at three months. They wanted to move on from oil and gas investment, and didn't have a way out without a merger/sale of Ranger. They drove the sale, and presumably they have other needs for their capital at this point, so were willing to give up the company for cheap. it could be anything from a cash call from one of their other investments, withdrawals from investors requiring cash, or a perceived better opportunity in a different sector.
Opportunity knocked, and Bayex took full advantage.
MyHoneyPot wrote: The conventional oil industry in the USA is more 10 times as large as it is in Canada. For a oil company to think that they can take over a Eaglesford play.
Does anyone really think that the technical team of a 3.2 billion dollars USA company was incompetant, and with baytex purchasing the company they are going to add significant value to the assets, and fix their under performing enviroment.
Now we are suppose to feel that Eric Nuttal personnel technical expect, look at the results and confirmed that baytex brought amazing, found only in Canada, technical expertise.
Eric slams the table and demands companys buyback their shares, pay him.
I think it kind of goes like this, you sell him cheap shares, with the promise to buy them back.
Eric breaks companies than he hopes for a rerating, and gets shares on the cheap.
If Eric is involved in the stock, you want to get out kick the dust off your sandles, and leave the scene because in a few months he will be doing that to your shareholders leaving the bag.
IMHO