Post by
rookieoilinvestor on Mar 01, 2013 8:04am
Insider buying
I just noticed today that J. Terry McCoy, P. Geol — Interim Chief Executive Officer bought 12,000 shares at 90 cents yesterday. Vote of confidence that the stock is well priced? Also, article in Alberta magazine this week talking about Arcan and Second wave to be the "plays" in Swan Hills area. With the infrastructure that Arcan put in over the last year, and the tax benefits, I think the Bank reports on value 90 cents to $2 ( most in the mid $1.30-1.80) are low. I cant see Crescent Point letting this play go...they need to keep volume production up and a refinance ( as they usually do) could take Arcan out at much higher levels without batting an eye! Time will tell!
Comment by
iaminvestor on Mar 01, 2013 11:07am
There is an article from Motley Fool out today saying that Painted Pony may acquire Second Wave or Arcan due to their proven oily rich Beaverhill Lake land. PPY strives to become oilier. Check ARN.V headlines in Yahoo.
Comment by
wordless on Mar 01, 2013 12:39pm
Good luck with PPY getting Arcan. CPG owns 19.9% PBN owns 17% Neither one of these will let it go cheap. I do however PPY makes an unsolisited bid for ARN and then we will have a bidding war on our hands. In this scenario, ARN would go for $5 a share... However, I don't think PPY is stupid enough to try such a thing.
Comment by
iaminvestor on Mar 01, 2013 1:31pm
Agree. This makes me think that SCS is a much better idea. BAM is the sole shareholder of SCS and they want to sell.
Comment by
LongoGlueStick on Mar 02, 2013 3:19pm
.90 x 12,000 shares = $10,800 Where did he come up with all that money?
Comment by
wordless on Mar 02, 2013 5:23pm
"BAM is the sole shareholder of SCS" Ummmmmmmmmmmm, SCS is a publicy traded Company. BAM is not the sole shareholder. There are likley thousands of shareholdrs.