RE: Retated Preliminary Prospectus (Monty)You make some sense but I thing that you are overly concerned for no good reason.
The fact that drilling might be delayed does concern me a bit, but Paramount have always taken a long time to pay their payables. I would expect that this will be explained to major contractors and the work in NE Alberta will get done anyway, without the trust formally operating yet.
Any staff from Summit that left are being replaced. If staff don't fit or don't want to work there, it's best that they go. So what's the big deal here? This is nothing more than another oil patch merger and cleanup.
The Prospectus was approved in Canada by the OSC but not States and the SEC. Anyone can get this approved in Canada but the process is much more difficult in the States. The Prospectus was filed in the States to get exposure to more investors, which ultimately will lead to a higher price for the trust. What's wrong with a higher price for the trust unit?
Anybody that thinks that Clay has turned everything over yet is sadly mistaken. Until he retires, and is gone, the buck still stops with him. Don't underestimate that. He won't let the company fail.
The SEC prospectus will be done within two months, so yes, there may be buying opportunities if the price drops but this certainly isn't the crisis some are making it out to be.
ARRHW