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Gold/Mining/Energy : Ranger Oil
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To: aknahow who wrote (188)1/6/1998 11:49:00 AM
From: HAZ  Read Replies (1) of 395
 
Ranger / In Play ??

I can't believe that someone isn't accumulating Ranger Oil as a takeover target.

The volumes today are approaching 2 million and the stock is holding around 9.00. It has also traded on high volumes during the past few months with a 4 million day in mid December, and 5 days were it traded over 2 million shares between September and December.

The only question is who is accumulating and when do they announce the official takeover.

Let's do some math, Ranger has X shares outstanding, another company can accumulate 10% or Y million shares before making their interests public.

Who is it going got be ; Talisman, Cnd OXY, any number of US based companies, Texaco Canada perhaps.

I'll place my money on Texaco Canada since it was rumored that they wanted to take out Elan during the summer but Ranger beat them to the punch with a higher offer that they didn't want to get into a bidding war with Ranger.

Let's see Ranger used some paper at 12.50 to buy part of Elan and now with Ranger trading at 9.00, I'd say Texaco is getting into the old Elan at a very good price.

They should have no trouble selling the North Sea interests and keeping the CND gas and heavy Oil properties to add to their own.

I'll bet that another reason Ranger is exceedingly low profile these days is to avoid a takeover battle.

Let's see if my prediction comes true, any comments anyone.

Cheers
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