If someone wants to pay enough for Blackspur that holders can get a 17-20c capital return then they must be crazy!
They could buy up big at half that and have the supposed jewel in the crown of the Montney thrown in for free.
I fear there is a lot of wishful thinking going on about the value of the Blackspur assets including by management.
CE1 is only worth what someone will pay and atm that isn't very much.
Ann: Company Update, page-104
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