Irwin Michael, B.Com, MBADaylight Energy LtdDAY.TOTOP PICKMay 21, 2010
Just converted from a trust and reduced the dividend to $.05 (about 6.5%). Had been gassy with about 25% oil but are about 50/50 now. 2 very important acquisitions, Highpine and West Energy. Very focused with plenty of room on their balance sheet. About $1.3 billion of tax loss carry forwards.
(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.