Rex I think Bne is doing fairly good maybe even excellent operationally in montney and cl but is there a way to get returns faster then doing some kind of "Transaction".
it sucks saturn oil stock price is so low making them less likely to be interested in a Corp deal right now but from far away alot that makes sense if companies swapped some assets into two companies.
give Bne shareholders a ratio of Saturn shares for the cardium assets and debt.
saturn gets a ratio of new Bne explorco shares for giving Saturns Kaybob montney assets. give a ratio of warrants as well as a carrot for both shareholder bases.
after something like this left with Saturn scenario of being a 50000 boe a day, and if debt is floated in a large debt offering like Saturn is capable of doing taken on from a deal like this...a company like this size and scale may be able to pay a monthly divy very fast. Pro s to Saturn shareholders would be Company’s asset base would be better spread between Alberta and Sask and scale and no capex needed for montney. pro s Bne shareholders would be their Corp debt can be handled easier in a larger company, and returns can start faster.
Pro s to new Bne explorco would be initial 6k boe a day production company, and Kaybob montney would be another place to haul rig when cl and sexsmith montney plays need a break for well completations. Warrants raise cash to build infrastructure. A company like this financed would have potential to hit 13-15k boe a day within three years.
Just my idea, probably makes 2 much sense to happen.