Post by
mrmomo on Aug 15, 2023 8:25am
Q2 out!.....All eyes focused on ONE
Little thing.....as everything else seems trivial or moot. I don't know about anyone else, but perosnally, i really don't care about how good or bad a qtr Suncor had. My only & sole interest here is M&A and at the macro level. Everything else is unimportant to me, because i'm not an actual s/h. But i guess if you were a holder of the stock and have a vested interest in the company, Suncor's Q2 results would have some relevance for you, at some level.
I also assume that even if you're not an actual s/h, but have vested interests in similar operators, you'd be intersted to now what's going on with Suncor's financials and its operations. Suncor is still regarded as a bellwehter of sorts guiding this niche space, so what goes on at Suncor and the decisions they take may indirectly impact & have consequences for companies cut from the same cloth. Some of which you are the owners of those shares. But i'll go one step further and assume the majority of you are probably looking for the same little thing i am, whether s/h or not and everything else is mostly secondary.
So what's this little "thing" that's so pertinent, so important? To me at least, and i know for some of you as well. Well friends, i don't have to draw you a picture, but i'm guessing (again! lol) most of you have probably figured that out at this point. At least some of the more brighter, perceptive ones on this forum probably have. So for those that still have NO IDEA what i'm talking about, i'll just go right ahead and lay it out as simply as i can and paint an actual picture. So what's everyone's eyeballz focused on? This -----> Any development of update on the discussions surrounding the "possible" acquisition of Total's remaining interests in the Canadian O&G space........which is their 31% owership of Fort Hills.
So what was said & where there any "material" developments since ConocoP's "surprising" move of exercising their ROFR and putting everything in limob? Well, let me draw some more pretty pictures for you........8).......below.
"Following ConocoPhillips Canada exercising its pre-emptive right to purchase the 50% working interest in the Surmont in situ asset, Suncor is continuing to evaluate the transaction to acquire the remainder of TotalEnergies' Canadian operations, including the remaining 31.23% working interest in Fort Hills."
Yep.....that's basically it my friends. So don't waste time looking for ANY additional info or further developments on this...... because there aren't any. What you see above is about the only thing you'll get from them......for now. So if you're deflated, dissatisfied and disappointed as i, well get inline behind me my friends because you aren't the only ones. So from this we can basically deduce that NOTHING has been done in the three months since Conocop"s ROFR and they're bascially telling us that either no more discussions have taken place between them & Total since then or some "minor" discussions have taken place BUT no progress has been made and they remain in limbo in some sort of stalemate. I guess we're all in for more deflation, dissatisfaction & disappointment.
So despite rosy, colorful & upbeat posts from people like Z173 and portraying the illusions of a "business as usual" outlook or nothing to see here, please move along........i for one am taking the opposing view and see that Suncor has some VERY serious issues on their hands, numerous problems to fix and they face a rather difficult dilemma..... or dilemma'S in Suncor's dire case.
Going back to the Fort Hills conundrum, and what exactly is taking place there, i surmise is the result of one of two things. Either complete & utter incompetence by Suncor mgmt in their handling of this issue OR they're the greatest Chess players that ever lived on planet Earth. Which one do you think they are? Imho, from my perspective, from the way this is progressing and information is dribbling out, it seems to be pointing more & more towards the former & less for the latter. What we have here are two VERY desperate companies who BOTH want this over done & with and wish to move on beyond this stalemate to continue with their own personal objectives & goals...... BUT refuse to budge an inch to accomplish this. The highest game of chicken or just two stubborn old couks?
So how does this end? Well, we all knew Total was "desperate" af to get out asap from the toxic environment of the fossil fuel industry in Canada, that was completely tarnishing their presumed prestine image they were trying so desperately to portray to the world and the investing public. So much so, that visiting their website was like visiting a Green Peace gathering of all the possible pro enviromental groups on the planet & all the propanganda that went along with it. I mean really these guys, meaning Total & their Execs, are so deep into this ESG narrative that even struck out ANYTHING related to Canada's fossil fuel industry and ALL & ANYTHING even remotely involving Oil Sands........even their Bitumen association links are disabled ffs!
So how does this really end? I really DO NOT KNOW. When you have two companies with a multitude of perosnal issues, fighting for the same asset for different reasons, who are in a situation that's so desperate, being forced into a deep dark corner with no viable way out for either then that's usually a recipe for ANYTHING to happen. And i do mean ANYTHING. You see even i like BIg BOLD caps to make my points stand out just like Z173 does....8).........just not with all the bells & whisltes and/or lipstick & scented perfumes.
GLTA
Comment by
matt2018 on Aug 15, 2023 8:47am
you just don't get it momo..... you really think Kruger is going to lay out his plans and show his cards? Why doesn't Total go see if COP wants to buy their Fort Hills stake? When you announce that you want out and there is really only one serious buyer, usually the first offer is the best offer. Price is going lower the longer they wait.