JJ- I would like to see Reabold leases drilled and take revenues and make another acquisition and maybe see a series of acquisitions, over next few years- to add reserves and daily BOE increases.
Why would Reabold agree to be acquired - if there wasn’t a future strategic long range plan to acquire potential more reserves and companies past them?
IMO- They need to chew gum and walk at same time here. For myself, imo, it’s a no brainer to drill reabolds leases first and be flush with lots of cash, who cares about a faster decline vs the daybreak legacy leases with slower decline in new wells? It’d be nice imo to see that occur and hopefully their looking around and ID’d another candidate for acquisition or two - to GROW.
Use Reabold leases - to GROW- combined with Bakersfield ops. We’ve seen what the PPS has been like with just bakersfield leases - let’s imo use reabolds high producers to launch another acquisition - hopefully- that’s what they do here and we see future PR’s in 4 quarters they have another acquisition possibly.
I want to see growth here, imo. I don’t want to see just daybreaks leases drilled. Same ole same ole. We need high imo higher BOE producers and fuel another acquisition or two, in next couple of years.
Be pretty cool if they did end up doing just that. It would be a wild ride potentially if it works out that way and maybe in future few years down the line - an uplisting to a major exchange. It would be a huge uphill mountain to be climbed, but it’s something a board and CEO- would have to really want to do for it to occur and many other factors. Anything is possible. It’s a small company, with reserves compared to big majors - it’s a blip. But the potential is there imo, for daybreak to grow.
There is potential - we just need to see how they play this. IMO- if it were me- I’d be on the hunt/prowl at same time while lining up looking at another acquisition- while simultaneously working on CA drill permits.
