Michael Simpson, CFADaylight Energy LtdDAY.TOWAITJul 06, 2009
About 70% gas weighted. Have good hedges in place in the short-term. There is talk they will convert to a Corp and become growth oriented because of some good development prospects. He'd like a clarification of this before he buys, as they may have to cut 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.