RE:Cardy... I find it hard to peg a value for Bne cardium properties...like realistic market prices not reserve reports that no company is going to pay near.
Cons on cardium reserves is a lot of value is over future decades and market values new quick production in next 5 years. But definitely sellable as still decently oily.
i think I posted a few years ago Bne should stop spending so much capital and drilling in cardium and let production decline and enjoy larger fcf.
Problem is public retail shareholders can not handle production declines even if it makes economic sense sometimes. Example more ng should have been shut in this summer.
Bne will always be interesting as it feels like more to come in this story. I think they will split into a newco with cl and montney properties and that would be interesting as low share float