Post by
MasterTiger on Mar 06, 2014 5:16pm
How much did Mr. Riddell paid for the Mackenzie asset?
I believe close to 500 mil a few years back. So when it was bought there was no pipeline, no NG discovery, and no Canol play. Oil was trading around 40-$70 and Natural gas was around $3.50.
NOW, after 5 years and after pumping a sh!T load of money we have no pipeline, NG sighnificant discovery, Canol sweet oily play, OIl is now trading from 80-$100+, Nat gas 2-$6.
So how much is MGX worth?
MGX sold 20% of a NG play to KOGAS for 30mil, maybe they will buy another 20%. If MGX goes bankrupt it wouldn't be good for them either. lol
Comment by
MasterTiger on Mar 06, 2014 5:24pm
The pipeline has been on the table and off the table for 50 years now. I doubt management would go all in without having a back up plan. Lets see the plan?