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Any guess as to what Petrobakken is thinking here, Devon?
ReplyDeleteSure, I think it is pretty simple. Crescent Point thought these assets were a good deal at $5 per share plus. I don't think there is any reason to think that Crescent Point doesn't know how to value Swan Hills acreage.
ReplyDeletePetrobakken is now buying shares at 20% of the price. It is a good deal, especially when Petrobakken can buy the whole company and therefore doesn't risk having the management team run it into the ground like us passive investors do.