RE:RE:Kelt Value - $8.70 to $9.70 Year End?I appreciate your asset level approach. Given the disparate nautre of their operations, an asset level transaction is more likely, and probably better overall value. Also...exactly what they've been messaging and what they did in 2020 (unfortunately).
Agree it is too soon on Wembley. In a few quarters (assuming strip pricing) Wembley alone should be worth more than the current EV of Kelt (that feels crazy to say on a day like today but 30k boe/d at near half liquids....you get to very big numbers).
Don't think re-investing that FCF into developing Oak is attractive. Even at $3.50 AECO it is a story beyond my patience.