Tenaz Energy Corp ATUUF

Big Deal Coming

[BERationale]

https://news.bloomberglaw.com/mergers-and-acquisitions/shell-exxon-in-talks-to-sell-dutch-venture-to-tenaz-energy

[yycblackgold]

Shell and ExxonMobil are talking to Canadian company Tenaz Energy about a possible sale of the Nederlandse Aardolie Maatschappij (NAM). This is reported by bloomberg news agency based on insiders. It was already known that the oil and gas companies want to get rid of the gas activities of the NAM because of the closing of the gas tap in Groningen. Shell and ExxonMobil both own fifty percent

[RockLobster1]

https://www.reuters.com/markets/commodities/exclusive-shell-exxon-launch-sale-major-dutch-gas-venture-document-2022-09-06 Same thing but I could read Bloomberg Exciting... but they say it's worth 1 to 1.5 billion... with a B.   Is it possible?

[TheRexmember]

Very possible.  with the limited info available it appears that Shell and Exxon have a joint venture that they have separated into 4 properties. One being an enormous onshore field called Groningen - a massive historical gas field. There is a lot of local drama around Groningen - environmental opposition, subsidence, earthquakes and political intervention. It is probably a cashflow cow

[copperplay]

when is this deal coming?  in 2023 or next year?

[TheRexmember]

Tomorrow. Next Year. Never. These guys keep banging away until they get the deal and terms they want.  There are a very Large number of wells, facilities, pipelines and multiple offshore fields with both gas and oil.  subject to financing, probably an equity issue and review by their bankers, government and management from two sellers. The due diligence on this one is staggering

[copperplay]

with current price of Oil financing or a partner with deep pockts should not be an issue Hard to read the stock if deal is close to being announced