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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (4520)	8/16/2017 12:54:42 AM
From: richardred	Read Replies (1) \| Respond to of 7242

My relatively short thesis with some basic facts. Especially at current prices I continue to believe it's a prime acquisition target. It has a market cap of under 130 million, it's also selling at a nice discount from book value. The company still has a good balance sheet. Based on other acquisition costs others have paid for in the area. IMO The current book value might understate the recent land assets it just bought. With low oil prices and uncertain outlook, progress is slow. It's very costly to drill wells now so maybe the company succumbs to a bigger player? Still my acquisition speculation might never get realized. However I will hold if nothing happens. Warning I lost a lot of money here on this company before. I do feel more comfortable in the current range. Since these posts on Big Dogs. Message 30989196 Message 31019626 In May Centennial Resources paid 350 million for Northern Delaware basin oil and undeveloped assets from GMT exploration. globenewswire.com Marathon Oil announces $700-million acquisition in Northern Delaware basin 3/21/2017 SNIP- "Today's 21,000 acre bolt-on in the Northern Delaware is an excellent fit with the basin entry acquisition we announced earlier this month. The combined deals provide us more than 90,000 acres in the Permian, over 70,000 of which is concentrated in the Northern Delaware," Marathon Oil President and CEO Lee Tillman said. "While we expect to pursue additional trades and grassroots leasing, this bolt-on achieves the scale necessary for efficient long-term development in the basin." Message 31043060 P.S. FWIW I also have JAG -Jagged Peak Energy- MTDR -Matador Resources-ROSE -Rosehill Resources on my watch list.