Post by
mrmomo on Jan 25, 2024 8:12am
Nothing new.....
And everything else is BLUE........
Your typical update from the folks at Obsidian, nothing really surprising or exciting and the standard jargon B6 to be expected in conformity with what the rest of the sector has put out in recent weeks. So basically the same ole same ole let down.....and i'm not even a s/h so i could just imagine those that are.....are thinking right about now.
Anyway, for those that are s/h, the really meaty good stuff should be devulged or expanded upon at the CC today........IF there's anything really in the works at OBE HQ that could get their excited and give them some hope for the future of this company. Personally, IF what Obe's peers having been releasing recently is any indication, i wouldn't hold my breath or place my expectations too high. It seems all these Canadian O&G Ceos, most of them anyway are taking a wait & see approach by hunkering down & keeping a low profile. I guess most of them are expecting some rough waters & head winds for the whole sector in the next 24 months. Which imo, is the wrong approach to take if that is really the case.
Why.....do you ask? Because NOW is the time to take some action to protect yourself against those headwinds......should they come. Taking a "wait & see" is only delaying the inevitable outcome for most of these small operators, which risking to be forced into complete insignificance (if they arent already!) & eventually forgotten. Or worse, a repeat of that dreadful period between 2016-2020 and this time there will be no second chances or positive, hopeful outcomes.
Hopefully, there will be "some" bright analyst at that Obe CC today, if anyone is actually going ot attend or participate to that obscure CC lol, and ask Team Loukas the BIG "elephant in the room" question regarding any possibe M&A to improve their dismal situation. Of course, though this would be a VERY hopeful endeavor, i highly doubt that anyone asks, and if by some chance some does, i wouldn't expect Team Loukas to even give an appropriate response for s/h & investors beyond the generic "no comment:".........
I personally STILL believe this "cycle" will be a do or die situation for guys like Obsidian, and if they learned anything from the Penwest debacle, it's not to be complacent and/or sit idle waiting for things to happen BEFORE you act. In addition, i still believe to avoid that possible outcome, if they wish to stick around, the best course of action or the low hanging fruit, would be to start off by consolidating some of their properties. And what better place to start than Bonterra? Sure, it's NOT the BIG BIG deal everyone expects or a game changer ....BUT.... it's a start and should give them a claer path to the next level.
Picking Bonterra's assets will give them not only a solid 50K boepd of IMMEDIATE production & increased Cf, but will also put in territory where someone BIGGER will possibly have "some" interest in them! So i strongly suggest for the folks at Team Luokas to consider this, and dust off that old Bne file and go nack to drawing board to see how they can comsumate a deal. If they were willing to give TWO shares to buy Bonterra a few short years ago, then giving them a measly single one this time around should be conisdered a real bargain .....right? I think so! But this time, make sure you do it right!
GLTA
Comment by
kavern23 on Jan 25, 2024 9:30am
Dude..obe isn't going to bail you out of your bne investment. Your choice to lose money on bne is your own fault. No white knight coming to rescue you, good luck as bne has to drill those old assets.