Does ALY / Bronco have a tenative date set so we can finally see some movement one way or the other? Cripe. Aly is poking its nose through the 50 MA, and continues to bounce off the 100 day. Can we break through the MA's already? Good numbers, added flexability with the Bronco merger, PEDRO buying like a wildman. Let's get the show on the road guys I'm tired of breaking even! If you can't tell, I'm a bit impatient. HECK, SLIM, throw me a frickin' bone here. ALY is like watching paint dry lately for cryin' out loud.
Understand now, thx dhoglundfl. Still the longer this deal takes to complete, the more BRNC share holders will lose on ALY's strong upward momentum. BRNC sp is doubtful without the merger jmo. [slim]
Slim - the amount of shares ALY pay for BRNC is dependent on ALY's average share price 10 days (if I remember right) before the close of the deal - so if ALY's share price continues its upward ascent they will pay out less shares, if the price goes down they pay out more shares.
As i recall When ALY bid for Bronco (cash and stock trade) back in mid January '08, ALY shares were around $11.00 and bid $16.00 cash for BRCN. 17% or + $2.72 higher at the time of the trade. The higher ALY sp climbs the more BRNC share holders make. Looking like ALY IS sweetening the deal BIG time. [slim]
Peak Oil? If this theory is true.....Why is Apache just starting to drill in an est. 1.4 trillion bbl. feild in Australia? Also there is news that Shell has discovered a HUGE feild in central Argentina. COG is finding MEGA methain production in the Appalatia's. Lots of work for oil sevices-drillers like ALY. BUY and HOLD-ON boy's, ALY will go higher. [heck]
BRNC has not even notified the shareholders of the proposed merger and not called for a shareholder vote to date. The largest shareholder (TAM with 22.4%) has filed a 13d indicating they will vote against the merger. I don't think BRNC will schedule a vote that they think will fail hence the silence and delay. I listened to a good part of the ALY call and the only reference to the BRNC deal I heard was when the CEO (I think) admitted that the deal was being described as a steal. Do you think 50% of BRNC shareholders will vote for this. I don't.
I think they will vote for it...if they don't BRNC stock will drop 2 points right after the vote...where do you see BRNC going without ALY? You want a higher price which I understand but it is not coming.... vote for the merger and buy ALY stock - the merger makes sense. BRNC on it's own does not...
hell, so long as oil stays above about 85 all these oil service co's and drillers are going to stay busy. It pays to drill more expensively when oil prices are this high. And trust me - oil prices aren't going below 85 any time soon.
min; at the cc they didn't give any dates on the BRNC merger but talked like it was a done deal. It's going to get voted on by the share holders pretty soon, (i think). That will tell the tale. ALY share price is holding GOOD, so the analyst cc was a good idea (cudo's to management). i'm holding SGY and EPL also,(both GOM oil and gas) both have been buying GOM lease-drilling rights and EPL just anounced two wells lately completed and talking about going for a deep water well in '08 if they can hang on finacialy? As long as Oil stays about $100 bbl NG above $8.00 mcf i think oil services-drillers will have a lot of work going forward. Micki did say he expects everything will come together for sure end of '08 thru '09 with '09 being his target date. until then ALY has good prospects in Texas-Oaklahoma with CHK-XTO about 70 other E&P's. These guy's are out there shaking the bushes, looking for work for sure. [heck]