I've seen all the DD and trash talk regarding $EEENF - So here's a perspective. Imagine you're ConocoPhillips, one of the largest gas and oil producers and the 201st largest public company in the world. You operate the largest segment of oil exploration in Alaska. What do you do?
A small Australian company just dug a well deeper and more successful than your efforts this season and has significant evidence that they are on a massive reservoir. The season is over and they are gathering proof that next season they will certainly complete the well...
You know you are going to own that oil at some point in time. Everyone knows it. They are drilling and their prospective well is within spitting distance of all your operations. Are you really not interested and actively negotiating with $EEENF daily before they release news?
The question is, what does the 201st largest public company in the world do? Do you wait a few months and hope they don't release news that will drive share prices higher? Do you wait until they have completed the well for you and pay a premium for the discovery? NO.
You quietly negotiate an acquisition while $EEENF are beat down, before they can publicly release any news. Because you know, the cost to finish digging the well next season is a drip in the bucket compared to letting a small company beat you to the oil and go public with news.
I'm no oil expert here, but ConocoPhillips certainly is and knows what results $EEENF already has before us. So, either they are leading us all on... possibility and are not even close. (Conoco is not interested) OR they are in the final hours of a deal. (Conoco gets the glory)
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