Ann: $7.5 Million Capital Return and Banking, page-11

So this is how I see this stock progressing, disregarding the Montney fiasco which needs to be left well behind in order to make an informed decision.

We know that there were previous bids for the Blackspur assets, and that offer was unaccepted, being too low due to concerns (from the buyers) that oil prices were low ($70 at the time). The offer price remains confidential and is known only to those involved including management, but logic suggests that the offer price is somewhat higher than the current SP, but not much higher than the SP then (so mid-teens I am guessing).

Management continually speculate that further offers will be forthcoming, this is a minnow and minnows get bought out eventually, more likely now that the oil price has moved into the $90s. Therefore, it is reasonable to expect any further offers to be at or above the previous offers, but certainly higher than the SP is today. This theory is further supported by the recent buying by management, who know the offer price, and who are getting in before any further offers come across the table, after which point they cannot buy until the offer price is declared to the public.

If this all plays out as I speculate, then the minimum return for any stock purchased under 10c has to be greater than 50%. The company then closes, and remaining assets are distributed to shareholders.

If it doesn't play out, then we just continue to be a low range producer making money and distributing dividends so long as Oil stays above $70c and I guess the SP stays at or around current levels.

Not seeing much risk .....or am I just Peeing in my own pocket here?