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This is a MERGER not a sale.They get our assets ,we get theirs ! The proportions are in line with market capitalisation,which is the only way to do it
Yes. We all know this is a corrupt deal for the directors to get the ultimate hand shake. It's funny that this country critizes other countries for wrong doings all the time in the financial world but all across the stock exchange there are deals done breaking all rules every week and never do you hear about any action taken. We are always more worried what's happening elsewhere than in our own backyard. Anyway, unfortunately this is a done deal worked out months ago. We just got to suck it and see what the future holds for us under tenaz.
so sd is producing 2200bopd ( Nett 1100bopd) to sdx with a market cap of only 17 mill, PPC has twice the market cap and not producing as much oil. never mind the gas and the next 8 wells to come. what is wrong with this bent market, I for one will be voting against the takeover, its been given away by directors who are no doubt lining their pockets thru the deal
Yes, i'm trapped.
All we can do is vote and hope.
Unfortunately SDX is far too small for most institutional investors and other trade buyers are not evident so we are stuck with Tenaz.Michael Doyle seemed impressed by the TNZ Board
Let's hope we get a better return from tenaz than Sdx, as now moved my stock ready for tsx. Have purchased recently so bought down average to help. I still think this deal is bad but like most deals on stock exchange we are powerless to do anything.
Mergers are organised by market capitalisation,there is no other fair way to do it.Tenaz are twice SDX therefore get a third of the merged cap.You may not like it but it is fair.Valuation of Tenaz leaves plenty of scope to rise.P/E ratio of 2.21,plenty of cash for deals.It really isn’t as bad as you think,particularly as no one else seems interested
You'd be better off reading the accounts and understanding why this is such naff deal.
Why are you watching the share price, you are in Crete enjoy your time there. :) I think the spread might be big, should get back to around the 2.19.
TNZ up 9% today,now that is a surprise.
Yes I agree Barhut ,we need to adjust the deal.The price targets for TNZ still look attractive though so I am not against a merger in principle.
Well as tonight tenaz at 2.11. If it continues to fall the deal gets worse for Sdx holders. Should stabilise soon or will be no 20% on merger just tsx shares to trade with extra charges. Bad deal
I don't enjoy watching my hard earned money disappear. It's not a prediction, I have no magic eight ball. Look when deals are done there is always going to be one side of the deal that will react a lot different to the other, it's usaully because the deal is one sided towards the other. This is what happened here, but the deal/ merger is calculated out on a ratio and is supposed to be weighted to Sdx for short term holders thus bringing in line nearer the time to the original ratio. Tenaz was always coming back down to 2.20 unless any news changed this. Buy Sdx now at 9.10 sell at 9.60. Like I said I'm underwater with this one due to my fault but I have made a purchase recently, not what I would normally do but can see a return on that purchase of 20%. So you can predict short term movements in many stocks it's knowing when to buy and sell that's the hard part.
Barhut,you seem to enjoy it when the Tenaz price goes down.Why is that ? Is it just that you predicted it would ? Only idiots think that they can predict short term price movements .It is impossible .
Oh no littlened. Tenaz share price nearly back to where it started. What a surprise.
Thanks Barhut,missed that as I have been flying to Crete all day !! But you are right
By the way littlened tenaz up 2% at this time, before you let me know. :)
Legache. Looking at the results of the agm I think this merger is a done deal as the big boys seem to be happy with the board. I cannot understand all the bulls--t talk from the management of a buyback in 2nd half when at this time they were consulting with tenaz on the future merger. What was the point. Maybe if they failed to get there pay off and felt the merger was not going to reward them enough this was there only way o improve share price. Still this shows again tenaz is getting a bargain with this extra cash as well, they should use some of this to pay for new listing on stock exchange for us brits.
it would make no logical sense really... Another reason why i'd vote against it. We can launch the buyback if this gets voted down.
Buy back not discussed at AGM.Probably off the agenda until merger vote
Does anyone know or was it raised at agm what's happening now about the buyback
Very good. I'm going to keep the new tenaz shares and see where it takes me, think there will be a sell of to start but should pull back. The only issue I have with the tsx is that it is only the 5 th size of our exchange so even less trades than we have. Don't forget before this merger there were many days that Sdx trades would be only 2 or 3 if that,so the stock doesn't move much.
Altura founded in 2007
I think you will find they have been around since mid 90s. Changed name last being altura energy, some platforms still use there old ticker for share price.
TNZ is a relatively new company with lots of cash to splash,a bit like SDX !