Post by
Bennys65 on Sep 02, 2023 7:10am
Lcx and Hwx
It is not news that all the lcx management are ex raging river and 3 of the six board members ex neil run companys plus you have Neil as special advisior.to the board.A little incestuous.So lcx goes public in nov and is quickly ramping up production while keeping debt low and doing small takeovers.The new low perm heavy oil fan type drilling idea is out of the bag Other companys are looking at their land and to other land for potential..At this point lcx does not have enough cash to go on an aggressive land buying binge without taking on a lot more debt.Enter HWX.Last quarter they bought 121 sections of low perm heavy oil prospective land incresed their cap ex and signeled they are buying more.Formed a new ventures group within hwx and put their head geo in charge.In short getting ahead of the other companys because they have the cash.Given how close all the people are in both companys I expect there is some plan in place for a combination at some point in the future.This is all spec and too much coffee on my part.