1. We know someone was willing to buy PWI for C26.75 plus transaction costs and there just are not that many Canadian oil and gas trusts out there of any size. There's CNE, PWE, HTE, PGH and a few other smaller trusts. It's clear, or it should be, all of these fallen angels are take over targets with oil at $80. The only question is at what price?
2. Only a fool could conclude these assets are not all being eyed by many players with the first to market getting the prize and the rest loosing research and labor cost. So time it seems is at a premium. If PGH goes to 220, then 22 is not much of a premium. At 18, 22 could get the job done.
So what's your price?
Let's start a fun guessing game and see if anyone is right.
I think $30 Canadian would do the trick for me. With PWI gone, the next one should fetch more. Of course each acquisition gives the Arabs more power and price control. So, I see $100 a barrel oil in the next 12 months, especially if the USA economy picks up.
As always these crooks called market makers will "sell" PGH down to 17.50 or lower before going higher. I'm going to load up if PGH ever gets back to around 17 and a little change. I just got a few more shares from the DRIP at 16.56 so that was a nice surprise. Ameritrade is just wonderful with the DRIP programs.