Iron Brdg Res Inc. OEXFF

Velvet offer is an insult

[JDavis17]

They are offering $23,000/boed, as IBR has 5000 boed of production capability.

Double it, and I might consider selling to Velvet.

[Brennus01]

Yes, for sure! Even at double that offer, $50k/boe is just kind of a market multiple for Canadian E&P. IBR has no debt and premium acreage.  It's worth more than just a plain vanilla $50k/boe market multiple.  In a competitive bidding contest IBR would go for $2.00.  Just based on their current production & premium acreage in the Montney. Really, USD70k per BOEd, which

[JDavis17]

Well, don't get carried away. Don't forget that IBR's land is completely intertwined with Velvet, so there won't be too many competing bids, and Velvet knows it. I had to chuckle at your IV post, where you said "you heard it here first", considering you copied my post from here.

[Brennus01]

JDavis, I copied the post from an investorvillage board. To the extent that you posted it there, please accept my apologies.  It's not my intention to slight you in any fashion.  You can have all the credit, and good on you.  I just want the profit.

[SigmaKappa]

Price is an insult. At that valuation they are paying for land and getting production and infastructure for free.

[Buckbid]

-low ball offer. Opportunistic by Velvet to submit prior to recent share price run up and drilling results.  - most retail shareholders won’t be too pleased here to wake up to this news. If you bought this stock in the last year, you’re not getting to much of a premium if any.  -Top 2 holders own about 30 plus percent of the stock so the outcome here whether it be a no thanks, or