Peter BriegerDaylight Energy LtdDAY.TOBUYMar 31, 2009
Gas weighted. Looking out 2 years at future curves on natural gas prices are very much higher. 40% hedged for oil/gas this year at much higher prices than they are today. Enterprise value per BOE per day is around 45. Production is around 24,000 barrels. Consolidation in the industry must come and this'll be one of the ones grabbed. Expecting a cut in distributions.
(Top Pick Jan 27/11, Up 7.62%) was taken out by a Chinese company. Didn’t predict it but clearly it was the smallest of the group. There will be more of a trend of this happening.
Being acquired by Sinopec International. He has tendered his holdings. When is a bid on the table and not likely to have counter bid, take the money and run.
Stock shot up when Sinopec Int made an offer to purchase at $10.08. If you own, he would suggest you take your money and run. There are still some regulatory hurdles.