BULLDOG HALTED BDE.A
Posted: Tuesday Oct 4 8:10:26AM 2005
I know I find the arrangement disappointing, at least from what I can tell. Bulldog, over the last several quarters, has shown consistent growth in production, cash flow and earnings. It consistently surprised on the upside. To me, it was still one of the most undervalued oil and gas firms of this size listed on the TSX. So many other similar firms have skyrocketed and are trading at 6-10 times cash flow and negligible earnings and to see this offer, which I feel has given no premium at all to shareholders, is, as I said before, disappointing. I guess we can hope that Crescent Point takes off, but I would prefer a better offer!