Kodiak Oil & Gas (KOG +2.2%) sees upside into the close on takeover chatter after the company reportedly canceled from an upcoming BMO conference. KOG's plentiful Williston Basin assets, worth as much as $13-$15/share, are said to have attracted interest from major oil players. R
Has cancellation been confirmed directly by Kodiak (website) or their outside IR team at Sierra? Or is Benzinga the only source? I believe Kodiak is worth more than current price, but rumors mean absolutely nothing unsubstaniated
Doubtful. This market is ready to pounce on the hint of a rumor or subtle alteration from the norm. Agree that the volume at the close was eye popping but look at SD. 15 minutes prior to the KOG volume they spiked to 6.90 on nice volume and settled to 6.80 at the close. Coincidence??Something as innocuous as a cancellation of a conference presentation really isn't any reason to start thinking about a takeover, IMO. If you invest expecting someone to buy out your investment at a large premium you will likely not do well over the long haul. Regardless of what happens, KOG is a buy and hold with accumulation on the dips, which will probably happen tomorrow.