Ann: Board Changes, page-14

WOW.

JohnMcCreery. A senior, highly experienced and credible, solid industry player joining BLU's board?

Such guys do not do dogs. They take their careers seriously, and they have choices.

This is a very positive ANN.

And McCreery's M&A expertise?

Interesting... does indeed suggest some serious manoeuvrings behind the scenes.

In this situation, the most potentially powerful solution for BLU ( possessor of huge tasty assets ) is to attract a cashed up suitor ( ability to realise those assets ).

Looking forward, gas is King. And at this insanely low SP / MC, BLU would look extremely attractive to an acquirer.

So will we get an offer? For a partial or complete buy out? JV, partial asset sale, or TO? What bid price would get SH consent?

The other option is that, failing any unexpected miracles, the current cash poor statis drags on into eventual insolvency, and a forced asset sale.

It's not going there.

Even a 'lifestyle management' ( if they are, and I think not ) would want to extract better terms from what they have than a liquidation fire-sale.

Lucky, we have the R&D rebates to stave off any immediate existential emergency..

And there's still the ongoing well testing, that could turn BLU's fortunes (and the SP) around in the near term.

So yes, plenty of meat on these bones here, and potentially a transforming deal shaping up in the pipeline.

As far as I recall, BLU never aimed to develop their assets, just sell or farm-out when Mr Right comes along.

For us LTSH's, BLU's been a long running soap, going steadily downhill - but now, with a major character change strengthening the plot, just how exciting might the next episode be?