RE:Dale Needs to SellCashflowADay wrote:
"Dale needs to Sell. Say it was sold to $TOU for $7 a share."
While i agree with you 100% that Crew SHOULD get sold....Just a few thoughts here on the valuations mentioned.
At $7 .....that would imply a deal worth about $1,2B with debt. Which would mean that Crew gets sold for sbout $40K per boepd. Which imo would be excessive with regards to where Ng pricing is right now AND also in contradiction to what others....similiar deals have gone for recently.
So in other words, $7 would be VERY optimistic & highly unlikely UNLESS Ng prices move up back over $3....and STAY there....OR.....Crew somehow manages to increase prodcution closer to 35k boepd........which is also unlikely in the short term......considering low NG prices....
As for Tourmaline being THE suitor for Crew......also highly unlikely.....as they always use the Canadian UnNatural playbook when it comes to M&A......meaning acquiring CHEAP assets either thorugh M&A or stand alone. So.....NO.....it definitely won't be TOU at $40k per boepd with gas at $2,50.
Imo, the best possible suitor for Crew has alweays been Arc, and i've stated that for the past few years.......constantly. But even when Crew was trading at an ALL time low of a measly Kanuck dime.....even then Arc was NOT interested. Not even at any point in the last 4 years all the way back up to $8. So that imo, is very telling of things things......CREW doesn't want to sell or is pricing themselves out of any reasonable M&A deal or giuys like arent interested in small players like Crew. Which is crazy to think aobut because CREW for ARC is the most accretive in any possible sense you look at it......and no one else comes close.
GLTA