WestFire Energy Ltd T.WFE

Boys in the 'hood'.

[MTPockets1]

Here are some big players in the area of WFE's Saskatchewan Viking Oil Asset base; Baytex,  Cresent Point, Husky and Penn West.

Any guesses which one is sniffing around?

[barneyj44]

My money is on Baytex, Ed Chwyn has purchased a fair number of shares the last couple of months and he's a director for both companies, I believe.

[MTPockets1]

You are right! Actually, three of the seven board members are on Baytex's board. Nice move on the SP today on light trading. It should get really interesting after the holidays. I think this will play out fairly quickly. The timing of this announcement tells me this proactive approach was initiated for a reason.  Does anyone know how they get around the conflict

[poubelle1]

 they resolve the conflict by overpaying!!

[dmacd]

[dmacd]

If a BOD member is in conflict, then typically they would abstain from the voting process, and might need to be out of the room for certain discussions. I do not see this as a point of concern. I see the WFE BOD as being very strong and very well connected. If anyone can pull a good deal together for a WIN-WIN then it should be these guys. Cormark will need to support the bid, but these guys will

[menotknow]

Also note that two Baytex board members are on the "special committee" overseeing the process.  There are only 4 board members in this committee.  Good odds.  Further, Baytex could swing a deal by issuing more of their paper....$10 is not out of the question.  Baytex stock has also skyrocketed by 15 bucks since October.  They could do it.  The thing is

[MTPockets1]

dmacd. As for the take out value, if you line up their trading metrics – P/NAV with their peers, your second guess is close. We should see an offer slightly south of that.   Having said that - WFE is a low cost producer with plenty of upside in terms of resources. Any company that gets this for circa $10 will be clicking their heels. What am I saying??  Damn if we get $10 I’ll be