Michael SprungDaylight Energy LtdDAY.TOHOLDDec 01, 2010
Recent results were not too bad. Added to their 2P reserves, proven and probable fairly significantly. Finding and development costs were competitive at under $12. Well run company. Have the cash flow to cover the dividend.
(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.