Having owned PVX since the '08 crash I watch it very closely. I don't believe there to be another buyout in the near-term....but another company/hedge fund could be accumulating shares. Once the new pipelines are completed and connected the cashflow will increase for sure.
The stricter laws Canada is implying for foreign firms/countries buying out Canadian Firms won't stop foreign entities from having a local "partner" to be in control of the company on their behalf.
The volume in the last week has shown a definite uptrend since this stock trades in such a narrow range.