TSX:NBZ - Post Discussion
Post by
TonyDj on Dec 05, 2016 9:11pm
Private Equity are the Majority Owners of NBZ .
Production for 2017 includes the recently completed sale of the Coleville property for $58.0 million (see news release dated November 28, 2016) and pending non-core asset sales for approximately $30.0 million. The pending asset sales are expected to close by the end of December 2016. Production from the properties for the month of November 2016 was approximately 1,200 boe/d (based on field estimates).
It looks like there are more asset sales $58 million Coleville and another $30 million for which we don't know yet. More sales than what we thought.
The last meeting Rooney said that the 2 PE backers had an average cost of about $6.00. So for why they would do this is that it is a smart thing to do.
For Tax reasons sell the stock at a loss.This is Tax loss selling season. Sell at the bottom. Buyback at the bottom.Stop the Dilution no more Stock Dividend Program and cut the dividend by half.
This is being done by both management and PE backers.They are both on the same page and I believe one of the same.Majority shareholders Owners of NBZ.
They are not seperate but passive management or silent shareholders whils Ronney and others are the day to day active managers. They are the ones that took this from private to public with the $500 million IPO at $19 per share.
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