Birchcliff Energy Ltd T.BIR

The number 1 prime take over is BIR

[goldenrivit]

As we are seeing in the gold space the NG space has yet to consolidate.But hedged producers like TOU can use its paper to buy out unhedged producer like BIR.The zero debt is a double edged sword as it puts BIR in a rock solid bullet proof financial position.But its depressed SP due to the low NG price means its no debt is red meat to a buyer like TOU as no debt needs to be assumed on a simple paper transaction.BIR needs to get it SP up or face a hostile take over.I warned SBBs management that its low SP was going to get a low ball take over a few weeks ago and bingo it happened this week.BIR will get a take over make no mistake about it.TOU or any buyer can scrap the $214 million BIR div and use it to pay off the paper take over on a TOU share buy back.Its a win for TOU to buy BIR before the NG price recovers.

[bossu]

A buyout is a possibility or Bir might go private. Low debt and good free fund flows is a greath combination as well as  long time reserves '' Birchcliff had a reserve life index at Dec. 31, 2022, of 7.5 years on a PDP basis, 22.3 years on a proved basis and 32.9 years on a proved plus probable basis, based on a forecast production rate of 82,000 barrels of oil equivalent per day

[clamlinguine]

I don't doubt this as this may be why the stock price is holding up as it is.